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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Citigroup Inc | NYSE:C | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.27 | -0.42% | 63.31 | 3,817 | 12:59:33 |
From May 2019 to May 2024
By Christina Rexrode
Citigroup Inc. said Monday that regulators are looking into its practices around servicing student loans.
The bank didn't say which regulator was behind the investigation, but it is believed to be part of the Consumer Financial Protection Bureau's broader probe into financial institutions that service student loans, according to a person familiar with the situation.
The CFPB is examining whether companies make it unnecessarily difficult for borrowers to repay their loans.
The bank said it is cooperating with the investigation. The bank sold the bulk of its student loan portfolio several years ago.
Last month, Discover Financial Services Inc. settled with the CFPB after it was accused of practices like overstating the minimum payments that borrowers had to make, and denying borrowers information about how much they could receive in federal income-tax benefits.
Write to Christina Rexrode at christina.rexrode@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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