Citibank Credit Card Complaint

Citibank Credit card department,

Forbearance / Workout plans Colorado

Citibank did the following : 1.Citibank profited by defaulting on workout plan [ Profits by Default ] & sale to debt buyer. 2.Fraud in Execution as Willful misrepresentation to Consumer of Work-out plan terms & risks creating financial benefit Citibank [ Profits by Default ]. Willfully & systematically created misleading representations of payment terms & attendant high probability of consumer default by risk of missed payments not caused by Consumer. Citibank used systematic misrepresentation on both Consumer Account ( - - - ) - & on Consumer Spouse Citibank Account ( Sears ). See [ Sears Dispute ] of Citibank response to CFPB Case # -. 3.Committed " Fraud in Execution '' in work-out plan design : Citibank set Consumer up to fail by systematic design of consumer assistance plans including : 1 ) knowing but not disclosing risks to Consumer of ACH or Bank-caused errors in required auto-draft payments that would be counted as a


Letter to define work-out plan that Consumer Account could not be re-aged & refusing to do so when auto-draft payment was disrupted by - - on Consumer checking. 4.Knowingly caused High probability of default due to ACH or Bank errors alone or with a Consumer error to cause Workout plan default - & it worked! - - did not pay - - auto-draft to Citibank for Account - without telling Consumer. [ - - - ] - - 's action caused a missed payment -cured by Consumer - but used nonetheless as key to Citibank falsely claiming default on Account. - - caused same problem in same month for Spouse Citibank/Sears work-out plan. - - secret policy change on auto-drafts was combined by Citibank with one missed payment by Consumer on Account - ( due to a family death & its costs ) to unlawfully cancel workout plan. The - ACH achieved error rate on false debit entries was -, with an allowed rate of - [ - ACH error ]. The - ACH payments error rate was - ( - ACH errors ) Suppose Consumer is accurate at 98 % rate. Suppose Consumer Bank is accurate at ACH rate. This creates a probability across - payments of all three actors ( assuming independence of events ) not making two missed payments across - payments of about 19 % - so Citibank makes loan assistance plans a Casino game - with winning odds for Citibank! Unlawful set-up & cancelling of consumer work-out plans across millions of credit accounts disposed of would benefit Citibank, among other ways, by falsely reducing reserves requirements ( Profits by Default ; Citibank reduces Reserves Requirements ) 5.Refused to investigate written Consumer complaint & re-age Consumer Work-out plan despite multiple complaints by Consumer to Citibank about wrongful work-out plan termination and written dispute by fax on -, -, -. ( Fax Complaint ). See same tactics on Spouse Account ( Sears Dispute ) 6.Citibank used Deceptive Practice to breach contract. On or about - -, - Consumer receives Citibank Letter dated - -, -, with misleading information saying Consumer could cure missed payment. Time to cure was not defined with effect of defrauding Consumer. - Dealing enabled Citibank to default by offering, then reneged on, cure of item 5. On or about - -, - Consumer received Citibank letter dated - -, - arbitrarily cancelling workout plan by denying time to cure as received in post day before. 8.Citibank benefited by unlawful sale of Account - to alleged buyer CACH/SquareTwo as " covered person '' with false information in same time frame & similar manner as noted in CFPB Citibank Order - - -.