The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt


Subject:  CR Slams Citi Date:  6/26/2020  2:03 PM
Author:  CMF_Fuskie Number:  312867 of 312955

In the wake of the coronavirus pandemic, millions of cash-strapped Americans are seeking relief from their credit card bills. Getting that relief can be a frustrating process, however. Unlike student loan or mortgage lenders, credit card issuers are not required by the Coronavirus Aid, Relief and Economic Security Act, or CARES Act, to provide help automatically for those impacted by the pandemic.

Many banks are providing COVID-19 accommodations at the customer's request by deferring payments, waiving fees, and other forms of relief. But you must call and negotiate the terms of that assistance on an individual basis, as we explain below.

But when it comes to actually delivering COVID-19 relief, Citibank was comparatively worse than other credit card issuers, according to a recent Consumer Reports analysis of complaints filed to the Consumer Financial Protection Bureau (CFPB).

Who notes the bite has largely been taken out of the CFPB but when allowed, it still has some bark...

Ticker Guide: The Walt Disney Company (DIS), Intuit (INTU), Live Nation (LYV), CME Group (CME), MongoDB (MDB), Trip Advisor (TRIP), Vivendi SA (VIVHY), Mimecast (MIME), Hain Celestial (HAIN), Royce Micro Capital Trust (RMT)
Disclaimer: This post is non-professional and should not be construed as direct, individual or accurate advice
Disassociation: The views and statements of this post are Fuskie's and are not intended to represent those of The Motley Fool or any other sane body
Disclosure: May own shares of some, many or all of the companies mentioned in this post (
Fool Code of Conduct:
Invitation: You are invited to interactively watch Motley Fool Live online television:
Call to Action: If you like this or any other post, Rec it. Better yet, reply to it. Even better, start your own thread. This is YOUR TMF Community!
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us