It's really time to punish this idiotic company. Whether it's raising salaries to get around having to deal with their own problems or even being rescued from total failure, this is a company that continues to thumb its nose at everyone. You'd hardly know this was one the most troubled financial companies in the world. Then again, how would you know when Obama has hired so many Citi executives? If Citi wants to play games - and it's clear that's what they want to do - someone in Congress who isn't tainted by links to Citi needs to give it right back to Citi. The tax code can have an amazing impact on businesses and it's time that is used. Reuters:
Citigroup has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.When the credit card law first was passed it never made any sense to delay its implementation other than Congress allowing banks like Citi to abuse consumers. Well done Congress and thanks for nothing, again.
Citigroup had upped rates on 13 million to 15 million credit cards it co-brands with retailers such as Sears, the paper said.
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