The Consumer Financial Protection Bureau (CFPB) says it’s ordering financial giant Citibank to shell out over a million dollars to potential customers who were treated like criminals.
In a press release, the CFPB says Citi violated the Equal Credit Opportunity Act by denying services to people based on their heritage.
The agency says Citi discriminated against Armenian Americans between 2015 and 2021 when denying their applications for retail credit cards, treating them as if they would likely commit fraud because of their roots.
“Citi treated Armenian Americans as criminals who were likely to commit fraud. From at least 2015 through 2021, Citi targeted retail services credit card applicants with surnames that Citi employees associated with Armenian national origin as well as applicants in or around