Citi has been fined $25.9 million for discriminating against Armenian Americans who applied for credit cards from 2015 through 2021.
The banking giant agreed to pay $1.4 million of the fine to the victims of the discrimination to settle the case, according to the Consumer Financial Protection Bureau (CFPB), which brought the charges. Citi also agreed to pay the remaining $24.5 million to CFPB’s victims relief fund and to stop the discrimination, taking measures to ensure compliance going forward.
