New York Attorney General Letitia James is taking Citibank to court.
She said that banks do a terrible job of protecting your money and that when thieves stole the money, Citibank did nothing to help.
News10NBC consumer investigative reporter Deanna Dewberry reviewed the lawsuit, which includes some heartbreaking stories.
One victim, referred to as “Consumer A,” had over $40,000 stolen from his online savings account by cybercriminals. When she reported it, a Citi customer service representative directed her to her bank branch, according to her complaint. When she did so, her manager allegedly told her there was nothing he could do to help her. And when she filed a fraud claim, Citi denied it.
The attorney general said the victims were online and mobile banking customers.
The Electronic Funds Transfer Act is intended to protect consumers when fraud or mistakes occur electronically. But James argued that Citibank violated federal law by providing shoddy cybersecurity and then systematically denying claims of fraud, costing New Yorkers millions of dollars.
A Citi spokesperson said in a statement that the company works extremely hard to prevent threats and assist customers who have fallen victim to fraud.
Consumers were more confident in January. In fact, I feel more confident than I have since December 2021.
Business research group The Conference Board released figures on Tuesday showing confidence has risen for the third consecutive month.
Consumers feel an improvement not only in their current situation, but also in their future economic situation.
iPhone users, have you turned on the anti-theft feature yet?
This is a new feature that can protect more than just your phone. It may protect your bank account.
With this new feature enabled, if a thief steals your phone, they’ll need more than your passcode to access your money.
You will also need FaceID or Touch ID.
First, you need to make sure you’ve downloaded Apple’s latest update, 17.3. Next, you need to go to settings and turn on stolen device protection.
