Citi closed all our accounts despite having a strong relationship
Jun 18, 2018, 11:55 am
#61
Join Date: Oct 2015
Location: NRT
Programs: UA gold
Posts: 135
You really should do some reading before making the assumption.
The languages in the T&Cs do not hold up neither in Small Claims Courts nor in Arbitration process, in the area where the banks have not spelled out clearly what are the forbidden therefore not entitled to earn rewards.
Like I said, you will not get the accounts reinstated but you get every penny you are owed, plus in the current Citi agreement with the 2 law firms - if you are represented by them, Citi agrees to pay you one EACH account that is shut down, on an agreed upon formula between Citi and the law firms.
Small Claims Courts have limitation on how much a complainant can receive, but arbitration does NOT.
Arbitration costs the business big money upfront but nearly nothing to the consumer who filed the motion. Citi was stupid enough to fight the arbitration and eventually realized it has lost a lot of money - both in term of expenses and in term of settlements. Therefore now anyone suffers a shut down from Citi has 2 lawfirms to choose from, to represent the consumer and go thru the settlement process.
Again, the information is for those who want to get back what is confiscated, illegally, by the banks. Not useful if your goal is to reinstate your closed accounts. I think my initial post is quite clear on that.
The languages in the T&Cs do not hold up neither in Small Claims Courts nor in Arbitration process, in the area where the banks have not spelled out clearly what are the forbidden therefore not entitled to earn rewards.
Like I said, you will not get the accounts reinstated but you get every penny you are owed, plus in the current Citi agreement with the 2 law firms - if you are represented by them, Citi agrees to pay you one EACH account that is shut down, on an agreed upon formula between Citi and the law firms.
Small Claims Courts have limitation on how much a complainant can receive, but arbitration does NOT.
Arbitration costs the business big money upfront but nearly nothing to the consumer who filed the motion. Citi was stupid enough to fight the arbitration and eventually realized it has lost a lot of money - both in term of expenses and in term of settlements. Therefore now anyone suffers a shut down from Citi has 2 lawfirms to choose from, to represent the consumer and go thru the settlement process.
Again, the information is for those who want to get back what is confiscated, illegally, by the banks. Not useful if your goal is to reinstate your closed accounts. I think my initial post is quite clear on that.
