NY AG Letitia James Sues Citibank

Patch reports Attorney General Letitia James announced on Tuesday that she is suing New York-based Citibank, N.A., for not protecting customers. The lawsuit alleges that Citi does not implement strong online protections to stop unauthorized account takeovers, misleads account holders about their rights after their accounts are hacked and funds are stolen and illegally denies reimbursement to victims of fraud.

New York Attorney General Letitia James is suing Citibank over allegations that it failed to protect customers from fraud properly and then refused to reimburse them when they fell victim.

Is she recouping money that will go back to victims? It usually does in part or not at all.

For its part, Citibank said that it goes beyond what is required by law to protect its customers. Officials said while the bank does its best to educate its customers, it can’t be held responsible in all cases where customers fall victim to scammers.

“Citi closely follows all laws and regulations related to wire transfers and works extremely hard to prevent threats from affecting our clients and to assist them in recovering losses when possible,” the bank said in a statement.

“Banks are not required to make customers whole when those customers follow criminals’ instructions, and banks can see no indication the customers are being deceived. However, given the industry-wide surge in wire fraud during the last several years, we’ve taken proactive steps to safeguard our clients’ accounts with leading security protocols, intuitive fraud prevention tools, clear insights about the latest scams, and driving client awareness and education.

“Our actions have reduced client wire fraud losses significantly, and we remain committed to investing in fraud prevention measures to help our clients secure their accounts against emerging threats.”

SHE IS SUE-HAPPY WHEN IT COMES TO COMPANIES WITH A LOT OF MONEY

She sued cryptocurrencies for fraud in October. James sued XM Radio in December for allegedly trapping customers into subscriptions. She sued Meta last year for harming youth and their mental state. James sued the owners and operators of four nursing homes. PepsiCo was sued by her in November over plastic pollution.

Most companies settle for big bucks to avoid further expenses and bad publicity.

It looks like she’s fighting for the little guy, but is she? You tell me. Her lawsuits all have a political element, and where does the money go?

Traditionally, the money the government takes in fines often doesn’t go to victims, or at least not all of it. One must wonder if it’s a way to fill their coffers, like extortion, or to force far-left change.

For example. Bank of America was fined $250 million this week by US federal regulators for allegedly harming customers by double-dipping on fees, withholding credit card rewards, and opening fake accounts.

Of those fines, $100 million will go directly to consumers who were impacted by the bank’s alleged wrongdoing.

JP Morgan gets fined a lot, and the money was used to enrich the government and far-left groups that advocate for the far-left government.

Just wondering where the money goes. Any thoughts?