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A comment on Citi to Refund $330M to Credit Card Customers It Overcharged. Parent comment

Re:Citi to Refund $330M to Credit Card Customers It Overcharged by basementcat on Friday February 23, 2018 @01:40PM (#16448302)
The other side might argue that the $330MM ultimately came from customers. If Citi didn't have to do such audits and no one complained, why should Citi be forced to "wealth re-distribute" these funds from one set of customers to another set?
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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by paulmd on Friday February 23, 2018 @01:45PM (#16448343)
Ah yes, the well-known "if they don't notice you took it, it's not a crime" loophole.

And no, the money wouldn't come from customers, why would it? Citi is a for-profit entity, this came out of their profits.

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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by basementcat on Friday February 23, 2018 @01:49PM (#16448374)
Profits come from customers.
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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by toss1 on Friday February 23, 2018 @02:06PM (#16448488)
Right, yes, so it doesn't matter how much they steal from customers.

Got it.

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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by conanbatt on Friday February 23, 2018 @02:19PM (#16448603)
Its double stealing if the consumer pays for the regulation and the scam at the same time.
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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by toss1 on Sunday February 25, 2018 @01:34PM (#16460366)
The point of the regulation is to prevent the scam, or recover for the customer the scammed funds.
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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by egypturnash on Friday February 23, 2018 @01:50PM (#16448379)
Presumably a bunch of that money ultimately came from the very same customers who are receiving this payout. The fact that it’s called a “refund” might help tip the other side off on this.
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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by traek on Friday February 23, 2018 @03:58PM (#16449567)
> why should Citi be forced to "wealth re-distribute" these funds from one set of customers to another set?

Nothing leads me to believe that the second set is different from the first. In fact, the word “refund” suggests they’re the same.

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Re:Citi to Refund $330M to Credit Card Customers It Overcharged by s73v3r_ on Friday February 23, 2018 @05:13PM (#16450085)
How is this "wealth re-distribution"? Citi wasn't supposed to have that money in the first place.
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