What happened with Citigroup and Revlon?

Register now for FREE unlimited access to reuters.com The dispute arose after Citigroup, acting as Revlon’s loan agent, accidentally used its own money last August to repay an $894 million loan for the cosmetics company that was not due until 2023, when it intended to make a small interest payment.

Does Revlon owe Citi?

The dispute stems from a mistake in August in which Citi paid off—with its own money—a nearly $900 million loan balance owed by Revlon, when only an interest payment was due. When Citi asked for the money back, some of the recipients obliged, returning roughly $385 million.

Can I sue Citibank?

As a Citibank customer, what are my options for lawsuits against Citibank? One option you have is to sue Citi in small claims court. If your claim qualifies for small claims court, you will be asked to attend a court hearing and pay legal fees to make your case. Or, you can do everything from your home.

What happened to Citibank?

In July 2009, the firm was effectively nationalized, with billions of dollars in bailout money converted into a 34\% ownership stake for the U.S. government. Citigroup was worth less than $16 billion, having lost more than $250 billion in value from its peak.

Where can I cash a check from Citibank?

You can cash that check by visiting any bank with which you have an account opened. You can also deposit the check into your personal account by using an ATM or Mobile Deposit, if your bank offers that feature.

How do I become a bank loan agent?

1. Eligibility Criteria. There is no such educational requirement to be a Loan Agent whether you are a working professional or a business owner you can become a Loan agent.
2. The Opportunity.
3. Bank Loan Agent Registration.
4. Get your bank Loan Agent registration with us now!
5. Commissions for a Loan Agent.

Does Revlon pay Citibank?

So sometimes when lenders have lent money to a company, they’ll pay Citibank to just administer the loan – to oversee it. Revlon borrowed money in 2016 and has to make periodic interest payments on that loan until 2023.

Where can I file a complaint against Citibank?

The Consumer Financial Protection Bureau (“CFPB”) is a federal government agency that regulates much of Citi’s business. The CFPB provides an informal channel for consumers to submit claims and complaints against CitiBank.

How can I file a complaint against Citibank?

Questions? If you need assistance with filing a complaint, please call us toll free at 888-851-1920 (TTY: 800-877-8339 via a relay service) 8 a.m. to 6 p.m. CST.

Is Citibank going out of business?

The bank is not shutting down its business although an exit process will be initiated right after the formal approval from the Reserve Bank of India. It will be a structured process without any changes in operations until the sale takes place.

What bank is affiliated with Citibank?

Citigroup
Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex….Citibank.