CitiBank Escrow Interest Litigation

Case Name:   347 Townhouse, LLC, v. CitiBank, N.A. 
Court:             United States District Court for
                         the Southern District of New York
Status:            Ongoing
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• The complaint filed by Tusa P.C. and its co-counsel against Citibank alleges that Citibank and CitiMortgage do not pay interest on borrowers' money held by them or their loan servicers in escrow accounts related to mortgage loans, even in the States that require interest to be paid.  Citibank agreed to pay escrow interest only to California borrowers after a California federal court determined that national banks could not escape their obligation to pay escrow interest required by the States.  The case alleges that Citibank and CitiMortgage must pay escrow Interest in the following States:  California, Connecticut, Iowa, Maine, Massachusetts, Minnesota, New Hampshire, New York, Oregon, Rhode Island, Utah, Vermont and Wisconsin. ​

View the Complaint

News:
Press Release (September 30, 2019)