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Citibank v. Sabeniano: Loan Offset Case by Di Can is a document available to read on EtoBox.

This case involves a dispute between Citibank, one of its affiliates FNCB Finance, and a client, Modesta Sabeniano. Sabeniano had deposits and investments (money market placements) with both companies. Citibank alleged that Sabeniano had taken out loans that went into default, so Citibank offset her loan amounts against her deposits and investments without her consent. The court found that Citibank was legally allowed to offset the deposits, as deposits are considered loans to the bank. However, the offset

Author

Di Can

Language

EN