(RoyalPatriot.com )- Author Will Saletan of Bulwark claimed that CitiBank has permanently barred some clients from accessing their bank accounts, even if they physically visited the bank with identification.
Saletan tweeted that several weeks ago, he learned that Citibank shuts off some clients from their accounts and won’t release their money even if they show up with ID. The bank sent an email last week openly reaffirming its authority to do this without cause.
He concluded the tweet by stating that your money is not secure with Citibank.
According to Saletan’s Twitter thread, Citibank also reserves the right to cancel an account at any time and for any reason, with or without cause, in an email answer to his inquiry.
Saletan also accused Citibank of defrauding clients by using ostensibly deceptive language. He cited Citibank’s email answer, which said that while the account closure process takes 30 to 60 days, those times do not appear to take into account the days the account is frozen before closure.
In a subsequent tweet, Saletan said Citi would only restore money they deem to belong to the consumer and that Citibank maintains the right never to repay the money.
Citibank has been involved in controversies in the past as well.
A report from 2021 claims that Citibank, in its capacity as a loan agent for the cosmetics corporation Revlon, unintentionally transferred $900 million to the firm’s lenders.
Citibank acted as the administrative agent between Revlon, the troubled cosmetics firm, and its creditors. It wrongly paid those lenders far more than it had planned to. $8 million was the proper sum.
After becoming concerned, Citibank filed a lawsuit in court, requesting a complete reimbursement of the $500 million that had been accidentally transferred. According to a US District Court judge, Citibank was not entitled to receive that sum.
At this rate, it would be safer to let Hunter Biden watch over your money.
