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[$$] Citibank Settles With Regulator Over Credit-Card Interest Rates

Citigroup Inc. won’t pay a fine as part of a settlement it reached with the Consumer Financial Protection Bureau after the bank failed to re-evaluate and reduce interest rates for roughly 1.75 million credit-card holders as required by law. Citi in February said it didn’t lower interest rates for those consumer credit-card accounts between 2011 and 2017. “Citi is pleased to have resolved the matter with the Bureau, and we reiterate our sincere apologies to our customers for not correcting these issues sooner,” the bank said.