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In April 1998, the Travelers Group merged with Citicorp to form Citigroup. [14] However, the synergies between the banking and insurance arms of the company did not work as well as planned, so Citigroup spun off Travelers Property and Casualty into a subsidiary company in 2002, [18] although it kept the red umbrella logo.
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In 2023, the Consumer Financial Protection Bureau (CFPB) ordered Citigroup to pay $24.5 million in fines and $1.4 million in restitution to Armenian Americans, alleging that the bank had illegally discriminated against members of the ethnic group and had unjustly denied them credit cards for which they had applied in a period beginning in 2015 ...
Clothing mogul and former Nets co-owner sues Citibank to get back 29 million credit card points ... Citi broke a series of consumer protection laws by declaring Rabin’s points null and void, the ...
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Primerica and its affiliates continued to operate as subsidiaries of Citigroup, although the Travelers insurance business was spun off in 2002. [ 31 ] Citigroup attempted to sell Primerica in 2008, [ 32 ] having received several bids from life insurance companies and private equity firms interested in buying.
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Credit card protection insurance is a form of protection offered by card issuers to help cardholders in times of financial difficulty. This insurance can offer a break from payment obligations ...