A former co-owner of the Brooklyn Nets who spent millions on his Citibank credit card claims the bank “unceremoniously dumped” him — and his 29 million “Thank You Points” worth $300,000.

Citibank has agreed to pay $700 million to consumers who were hurt by deceptive and illegal credit card practices, plus $70 million in fines, regulators said on Tuesday. Some 8.8 million ...