Response From the FTC: Citibank

Here's the response I received to my complaint to the FTC about Citibank cancelling my home equity line of credit.

Guess I won't hold my breath waiting for help from these folks. My immediate response to this message? 1. Self-serving. ("See how wonderful we are?") 2. Doesn't sound like they act on only one complaint--they wait to see a "pattern." Lame, lame, lame.

So if you have had a HELOC cancelled, e-mail the FTC and complain!


Dear Jeanne Sather:

Thank you for recent correspondence. The Federal Trade Commission acts in the public interest to stop business practices that violate the laws it enforces. Letters from consumers and businesses are very important to the work of the Commission. They are often the first indication of a problem in the marketplace and may provide the initial evidence to begin an investigation. The Commission does not resolve individual complaints. The Commission can, however, act when it sees a pattern of possible violations developing.

The information you have provided will be recorded in our complaint retention system. This computerized system enables us to identify questionable business practices that are generating numerous complaints and may be in violation of the law.

Thank you for providing information that may be used to develop or support Commission enforcement initiatives.


Sincerely yours,


Consumer Response Center