Lakewood, Ohio filed a lawsuit against National City Bank and its successor, PNC Bank. According to Cleveland.com, the suit alleges that the financial institutions owe more than $80,000 for “unpaid credit card rebates.”
In 2005, Lakewood signed an agreement with National City Bank for employee credit cards and National City offered a rebate program as extra incentive, the news source reported. The city charged, the more it received in rebates. However, the lawsuit says that the payments stopped in 2011. In January 2012, the city received an email from PNC that requested Lakewood sign a new credit card agreement. City Law Director Kevin Butler told Cleveland.com that the prior 2005 agreement had no expiration date.
Specifically, the lawsuit alleges PNC owes more than $38,000 in rebates from 2011 and more than $42,000 from 2012.
“Despite making multiple demands under the contract for fiscal years 2011 and 2012, defendants have failed and expressly refused to pay Lakewood the rebates to which Lakewood is entitled,” the lawsuit read, according to the news source.
In January 2013, Lakewood went to another bank for its commercial bank card needs. The city explained that PNC notified Lakewood it was canceling the 2005 credit card agreement in October 2013.