A federal judge in California has dismissed Racketeer Influenced and Corrupt Organizations Act claims leveled against Citibank NA and its mortgage servicing arm, accused of racking up unnecessary charges on defaulting borrowers.
The case, Stitt et al v. Citibank, N.A. et al, was originally combined with a similar action against Wells Fargo, which claimed both banks surreptitiously charged borrowers for unnecessary default-related costs.
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