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Citibank Fined $25.9 Million for Discriminating Against American Armenians

Citibank systematically discriminated against Armenian Americans for six years, the U.S. Consumer Financial Protection Bureau (cfpb) said Wednesday, and now must pay $25.9 million in fines and consumer compensation.

Yahoo Finance, on Wednesday, reported that the government watchdog said that from 2015 to 2021, Citi “treated Armenian Americans as criminals who were likely to commit fraud.” Citi managers trained and directed employees to target retail services credit card applicants based on their surnames and area of residence. Those living in or around Glendale, Calif., which is home to 15% of Armenian Americans in the US were singled out for rejection.

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Credit: Mark Lennihan, AP Photo

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