Consumer complaint received 2023-11-16
Company: CITIBANK, N.A.
State: GA
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
XX/XX/XXXX Citibank Dispute Resolution XXXX Dear Sir/Mam, Good day, during the period XXXX XXXX I have had XXXX loans originating and/or serviced by Citibank. 

XXXX. XXXX XXXXOriginal Note date-XXXX XXXX XXXX XXXXsold to XXXX 
XXXX. XXXX XXXXOriginal Note dateXXXX $ XXXXsold to XXXX 
XXXX. XXXX XXXXOriginal Note dateXXXXXXXX XXXX XXXXSold to XXXX 
XXXX. Loan XXXXOriginal Note date XXXX XXXX XXXXsold to XXXX 
XXXX. Loan XXXXOriginal Note date XXXX $ XXXXsold to XXXX 
XXXX. Loan XXXXOriginal Note date XXXX XXXX XXXXServiced by XXXX. 
XXXX. Loan XXXXOriginal Note date XXXXXXXX XXXX XXXXServiced by XXXX 
XXXX. Loan XXXXOrignail Note date XXXX XXXX XXXXServiced by XXXX 

On or about XX/XX/XXXX, The Consumer Financial Protection Bureau ( CFPB ) today acted against Citibank , N.A . for student loan servicing failures that harmed. 
borrowers. Citibank misled borrowers into believing that they were not eligible for a valuable tax deduction on interest paid on certain student loans. The company also incorrectly charged late fees and added interest to the student loan balances of borrowers who were still in school and eligible to defer their loan payments. Citibank also misled consumers about how much they had to pay in their monthly bills and failed. 
to disclose required information after denying borrowers requests to release loan cosigners. The Bureau is ordered Citibank to end these illegal servicing practices, and to pay {$3.00} XXXX in redress to consumers and a {$2.00} XXXX civil money penalty. 
Citibanks servicing failures made it more costly and confusing for borrowers trying to pay back their student loans, said CFPB XXXX XXXX XXXX. We are ordering Citibank to fix its servicing problems and provide redress to borrowers who were harmed. 
For the student loan accounts that Citibank was servicing, the Bureau found that Citibank misrepresented important information on borrowers eligibility for a valuable tax deduction, failed to refund interest and late fees it erroneously charged, overstated monthly minimum payment amounts in monthly bills, and sent faulty notices after denying borrowers requests to release a loan cosigner. Specifically, the Bureau found that Citibank : As a direct result of inaccurate advice and failure provide accurate or timely information on these loans, we have had collections account negatively affecting our credit for several years and have spent countless hours going back and forth attempting to locate and rectify these issues. These issues have been directly identified in the CFPB settlement. 
To date, only XXXX ( XXXX ) of these loans ( XXXX and # XXXX ) that have either originated or serviced by Citibank during the period XXXX as referenced by the legal CFPB settlement listed above have been addressed. All other loans that were held or serviced by Citibank have not been addressed to date. 
In a recent conversation with a Citibank representative by the name of XXXX XXXX XXXX  I was again mislead and advised that I only had XXXX loans originating during this period which was incorrect. 
She stated that the only loans I had originating at Citibank were loans listed as follows : # XXXX Note date XXXX XXXX XXXX Note date XXXX XXXX XXXX No note date provided. 
The representative also listed that these loans may have been sold. However, these loans were all serviced by Citibank within the XXXX period and subject to the CFPB legal settlement. 
As to this issue, we can testify that we have made several attempts to get this rectified. Initially we were never advised by Citibank that these loans were sold. In addition, when we continued seeking clarification we were again inaccurately advised or in some cases not advised as to when these loans were sold or where they are. In our last communication we provided this information and was again incorrectly advised that the loans do not fall within this time frame, and we have not been misled. The representative advised that Citi bank would be removing all negative tradelines and these accounts from my credit reporting as did with XXXX of these loans already. However, this has not been done to date. 
As each of these loans are within the scope of the CFPB settlement and we were misled with wrong information on numerous occasions were asking to remove the balances of these loans as per settlement and correspondence prior. Please send rectify the balances on these loans listed below that were serviced by Citibank within the period of XXXX and have all negative tradelines removed from my credit report. I have attached all correspondence for reference. 

XXXX. Loan XXXX-Original Note dateXXXX XXXX XXXX XXXXsold to XXXX 
XXXX. XXXX XXXXOriginal Note date-XXXX XXXX XXXXXXXXsold to XXXX 
XXXX. XXXX XXXXOriginal Note dateXXXXXXXX XXXX XXXXSold to XXXX 
XXXX. Loan XXXXOriginal Note date XXXXXXXX XXXX XXXXsold to XXXX 
XXXX. Loan XXXX-Original Note date XXXXXXXX XXXX XXXXsold to XXXX 
XXXX. Loan XXXXOrignail Note date XXXX XXXX XXXXServiced by XXXX 
I can be reached at XXXX XXXX XXXX and happy to provide all correspondence I have with the company. 
Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation