SP.A receives complaints about Citibank

14 March 2007

BRUSSELS – The Socialist SP.A opened a hotline on Tuesday for complaints about Citibank, the market leader in consumer credit. Party chairman Johan Vande Lanotte accused the bank of “systematically and deliberately recruiting clients who are already deep in debt.”

The party had already received 53 reports of abuses by 3 p.m., both from duped clients and bank employees. There were 39 complaints. Twelve of these are clear complaints about violations of privacy legislation and credit legislation.

People with debts are bombarded with advertising material from Citibank, even though they have made it clear they don’t want to receive any advertising.

There were 27 complaints from people in excessive debt who are being put under pressure by the bank.

Citibank itself has already says that it does not take on problematic cases as clients. “Less than 1 percent of our customers for consumer credit have problems paying,” a spokesperson for Citibank said. The bank would like to meet with the SP.A for talks.

Subject: Belgian news