The Consumer Financial Protection Bureau (CFPB) has ordered Citibank to pay over a million dollars to potential customers who were treated unfairly. According to the CFPB, Citibank violated the Equal Credit Opportunity Act by denying services to people based on their heritage. Specifically, the bank discriminated against Armenian Americans between 2015 and 2021 when denying their applications for retail credit cards. The CFPB found that Citibank targeted applicants with surnames associated with Armenian national origin, as well as applicants in or around Glendale, California, which is home to a significant Armenian American population. Citibank employees received instructions to recognize applicants of Armenian descent and use various means to reject their applications. The bank provided fake reasons for the rejections, blaming the applicants themselves. As a result of this discriminatory practice, the CFPB has ordered Citibank to pay $1.4 million to the affected credit card applicants and a $24.5 million penalty.

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Information	Details
Geography	Middle East
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	CFPB, Citibank
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