Consumer complaint received 2024-08-08
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: CITIBANK, N.A. (FL)

XX/XX/XXXX, I tried to send through Citibank a wire of {$6100.00} to my XXXX lawyer, however the account was blocked. When I called the wire department to find out why I cant send money to my lawyer, they advised me that the account was blocked by XXXX and the wire was cancelled. The Account blockage caused cancellation of all scheduled bill payments for credit cards, insurance, car lease, XXXX XXXX, apartment rent, transportation company services. Next morning, XX/XX/XXXX, I called again to the wire department and was told that XXXX unblocked the account, however the wire, initiated XX/XX/XXXX, couldnt be sent because it was cancelled the previous day and I need to generate another wire. I created a new wire and successfully sent it to the beneficiary. A few hours later Citibank sent the cancelled wire with no authorization from my side. The beneficiary got both transfers, but never returned XXXX. Who and when will return me the {$6100.00}? Who and when will reimburse me the late fees and penalties for the bounced checks? Citibank only reimbursed me the {$27.00} payment fee. 
Citibank for the last XXXX  years has never responded to the abovementioned questions, never disclosed the outcome from investigation of my complaint # XXXX started XX/XX/XXXX, by branch # XXXX XXXX XXXX XXXX XXXX and another investigation conducted by wire department case # XXXX. 
On XX/XX/XXXX, I made a {$15000.00} deposit in the form of a check into Business Credit Line Account of Citibank 's XXXX. XXXX XXXX in Florida. Later this deposit disappeared from the bank 's records. 
On XX/XX/XXXX, I attempted to wire {$10000.00} to XXXX of my suppliers, XXXX XXXX, a manufacturer of specialty food products located in the country of XXXX, as payment for a shipment of the specialty products that was ordered and received by me. The products manufactured by XXXX XXXX and that were ordered could not be bought anywhere else in the world. The funds would not go through because my account had been locked by Citibank without notice or warning. I called customer service at Citibank to find out why my account was locked, but no one could give me a reason, therefore. Thus, on XX/XX/XXXX, I received a letter from Citibank dated XX/XX/XXXX, stating that as of XX/XX/XXXX, my line of credit had been reduced to {$0.00}, thereby closing my business line of credit account, with serious consequences for my business. 
As a result of the abrupt termination of the credit line, I could not make payments to XXXX XXXX. XXXX XXXX terminated its relationship with me due to nonpayment and no longer supplied its specialty food products. I could no longer distribute and sell the specialty food products from XXXX to my customers in the United States because of the termination of the business relationship with XXXX XXXX. This has led to the loss of hundreds of thousands of dollars in profits that I would have realized. Citibank, with actual knowledge of and reckless disregard for the truth, made false representations concerning the good standing of my credit line, a material fact insofar as I was concerned. 
All my correspondence with Citibank didn't bring any results, they were just making up different reasons for terminating my account. In XXXX Citibank even obtained a default judgment against me ; however Honorable XXXX XXXX XXXX vacated the default judgment on XX/XX/XXXX. 
Citibank N.A. materially breached its fiduciary duties owed to me when failed to fulfil its obligations under the relevant contracts and agreements, evidenced bad faith in its dealings with me. Citibank made material misrepresentations too and fraudulently induced me into executing the relevant contracts and agreements. Citibank induced and encouraged me to place its faith and trust in Citibank in its granting me the credit line that I needed, and that Citibank knew I needed. Citibanks intentional and negligent actions in terminating the credit line for no apparent reason and its oppressive actions toward its customer in accelerating the balance of the credit line breached its fiduciary duties owed to me. Citibanks conduct was malicious and outrageous and warrants thorough investigation by CFPB and imposition of sanctions based upon the breaches of contract, breach of fiduciary duty, and the torts committed.

Then I filed a complaint with CFPB, to what I got a response from CFPB that Citibank N.A. doesn't recognize me as its customer and they wouldn't investigate the matter, despite Citibank sent a letter to me ( CCd CFPB ) that they couldn't locate the deposit of {$15000.00}. See the above-mentioned letter attached. 
After my multiple calls to CFPB hotline the representative told me that they only investigate cases where a big number of customers is involved. Then I filed a second Complaint to Federal Reserve, the CFPB 's parent organization. The Federal Reserve redirected the Complaint to OCC - Office of the Comptroller of the Currency. The OCC forwarded it to CFPB, CFPB directed the Complaint to Citibank. At this point, the circle got closed. 
CFPB is the agency that claims to protect people from big banks. This agency that was supposedly put in place to protect consumersas the name suggestshas done just the opposite : two times covering the bank wrongdoers by opening and closing the XXXX cases ( case # XXXX & # XXXX ) without even any attempt to investigate my complaints.

That is why Im filing this third complaint, which is more extensive and detailed.