Complaint Review: Citi Bank
Citi Bank Witholding applied for loans for school to up their stock market value? Internet
The idea is that Rio Salado College and Citibank allow some loans to be dispersed, as to not arouse suspicion. But when Citibank dispersed some of the student loan money to the students, share holders of Citibank stock, if they owned a good deal of it, lost quite a bit of money even though the value only dropped a dollar a share. Imagine if a share holder owned 100,000 shares, that would be $100,000.
Citibank has been sued in the past for "Preying on the Poor," and it looks like they might be at it again. A student who goes to Rio Salado College doesn't go there because they are wealthy, but it is a school for the more insolvent population to attend to possibly earn more money in the future. It seems that Citibank in conjunction with Rio Salado College may be witholding funds to make their bottom line look better.
This report was posted on Ripoff Report on 02/02/2013 02:17 PM and is a permanent record located here: http://www.ripoffreport.com/reports/citi-bank/internet/citi-bank-witholding-applied-for-loans-for-school-to-up-their-stock-market-value-intern-1007882. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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