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.
[[File:20070509 Citibank.JPG|20070509_Citibank]]
“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?
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Lawsuits by government against big corps is their way of taxing otherwise untaxable corps. In the end, the consumer/taxpayer is the one, as always, who has to absorb the loss due to yet another new form of government taxation of the supposed rich corps.
Corporations are taxed.
The entity has to fork over funds to the government, yes. Then the entity has to create/produce that money, as well as the money to pay the business costs. You think they can create that money out of thin air and just haven’t told the rest of us how to do it? Of course the customer pays ALL of that,… Read more »
Now we know where and how reported 15 million came from. She’s a shake down artist. A ambulance chasing lawyer. She been in “ public service “ since day one.
…companies were afraid of the bad publicity so they gave Billions to BLM…then the BLM leaders stole a good deal of the money and bought themselves luxury items or mansions…BLM was into extortion. After George Floyd died of an overdose and way before Chauvin was even found guilty, a judge awarded 27 Million to Floyd’s family = extortion I would… Read more »
The Rev Sharpton and Mr. “Hymie Town” himself, Jesse Jackson, have been making a very nice living through racial extortion for decades. This is nothing new.
The amazing part is that the corporate lawyers always pay them off, as if it is part of the plan now. Do they get a tax write-off for the extortion pay-off?
You are right that it is not new, those two extortion experts have been at it for decades, but it is worse today, and getting worse every year.
She will do anything except fight crime. Fighting crime does not move her up in the party hierarchy.
Bingo!
Who is #1?