Citibank Inc. Photographer: David Paul Morris/Bloomberg
Citigroup Inc. got a break from the Consumer Financial Protection Bureau, avoiding a fine after failing to adjust rates for cardholders and costing them more than $335 million.
The agency, which is being reshaped under President Donald Trump, announced the decision Friday. It credited the lender for discovering the error, alerting regulators and setting out to repay borrowers before being ordered to do so. The lapses affected about 1.75 million accounts, according to a settlement posted on the CFPB's website.
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