Consumer complaint received 2022-10-12
Company: CITIBANK, N.A.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have been a client with Citibank for checking and a credit card since XXXX the fall of XXXX I missed payments on my citi card credit card and fell behind .I spoke with the credit card and explained that I was receiving a set amount of family support from my father, told them the amount and had to choose between my business fees for my small business to stay compliant ( bus license renewal etc ) and paying the card.They were not able to offer any more Covid plans so the account went past due.I began to stabilize the card to keep it open with the minimum amount required and continued to do so.Out of the blue Citi sent me an email on XX/XX/XXXX ( see attached ) saying if I met the minimum due on the credit card by XX/XX/XXXX the card would be current and I could start using it again.I was delighted and after I made the payment the card became current and I was able to use it.My credit score improved also.The payment was made on XXXX the weekend of XXXX XXXX ( XXXX ) I logged on to my account and there was a pop up saying I needed to update my information and " To avoid a block on your account, please take a moment to update your information. Thank you for partnering with us on this urgent request. " .I was shocked as there had not been to the best of my knowledge any prior requests ti update my information and started to update- The first question was : Please select a source of income that contributes XXXX percent or more to your total net worth.I checked the box for Friend/Family support.XXXX gave the name of my father and his birthday and source of his wealth ( investments ). I checked " yes '' to the question whether the investments were still owned.The next question was the issue : It asks for the current value of my fathers investments. My father is a high net worth individual and on the advice of his private bank did not want to provide that information to Citibank.Because I can not provide this information I have been informed that Citibank will not be able to do business with me- The account is not blocked yet but they will not relent.I asked the rep I spoke with if my fathers bank in NY could send a letter or fax with verification and something to assure them and she said she doesnt have a fax.These wires come from a well know bank in NY directly into this account .They have said they need all this for anti money laundering and federal regulations but I can not provide private financial details a third party ( my father ) does not want to provide Citibank.They want the " Current Value Of Investments " for my father. Because this is not being made available to give them they are planning on shutting my account and as the credit card is connected this will destroy my credit score and cause a future of enormous economic harm potentially making it impossible for me to keep/get bank accounts.It is outrageous they are demanding the net value of my fathers investments as he is not their client and they can easily see that his wires originate from a highly reputable bank in NY since they go directly into my account at Citibank through wire transfer.I fail to see how this is any of their business or how knowing the net value of his investments would help them fight money laundering or comply with regulations.There was nothing in my original agreement with them ( To the best of my knowledge ) addressing disclosing the net value of a third party 's investments if I was to receive financial help from family. 
He has been helping me since the spring of XXXX and I question why they would make my credit card current and then weeks later demand this information.I also do not see why a bank of Citibank 's size and sophistication could not take a verifiaction fax /letter etc from the account manager at my father 's private bank ( The woman I spoke with said " She didnt have a fax '' ) .I was speaking with their Citi Consumer Business Support Unit and verified with the main telephone number at Citiank that this was Citibank and was legitimate.I also logged in on another browser to make sure this was the Citibank site, Almost 30 years of being a loyal client and I am now being thrown under a bus because my father does not want to provide a bank he has no relationship with intimate details of his finances.If this is my experience beware because anyone who is going through a rough period and receiving financial support from a third party risks being treated in the same manner, being put in the same position and having a rough time made even rougher by the unexpected and unreasonable demands of this bank who now plans to drop me leaving a stain on my credit history and potentially flagging me because I can not provide them with information that is not available to me from a third party.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation