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CITIGROUP INC.

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Citigroup : U.S. orders Citibank to pay customers over debt and collections practices

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02/23/2016 | 03:02pm EDT

WASHINGTON (Reuters) - The Consumer Financial Protection Bureau said on Tuesday it ordered Citibank to pay $5 million (£3.5 million) back to customers and $3 million in penalties over its debt sales and collection practices.

In a statement, the agency said it took action against the financial services company for selling credit card debt with inflated interest rates and for not forwarding consumer payments promptly to debt buyers.

It said it also ordered Citibank, part of Citigroup Inc, and two law firms it used to comply with a court order to refund $11 million to consumers and forgo collecting about $34 million from about 7,000 consumers.

(Reporting by Washington newsroom; Editing by Matthew Lewis)

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Financials (USD)
Sales 2019 73 873 M
EBIT 2019 31 386 M
Net income 2019 17 218 M
Debt 2019 -
Yield 2019 3,03%
P/E ratio 2019 8,32x
P/E ratio 2020 7,51x
Capi. / Sales2019 1,94x
Capi. / Sales2020 1,90x
Capitalization 143 B
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Technical analysis trends CITIGROUP INC.
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 80,85  $
Last Close Price 63,42  $
Spread / Highest target 67,1%
Spread / Average Target 27,5%
Spread / Lowest Target -18,0%
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Managers
NameTitle
Michael Louis Corbat Chief Executive Officer & Director
James Anthony Forese President & CEO-Institutional Clients Group
John C. Dugan Chairman
John C. Gerspach Chief Financial Officer
Anthony M. Santomero Independent Director
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