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Armenia , Thursday 15 October 2026

Citigroup to pay $25.9 million for targeting Armenian-American card applicants

Published on: Tuesday 07 November 2023

Citigroup to pay $25.9 million for targeting Armenian-American card applicants NEW YORK (Reuters) -Citigroup Inc has agreed to pay $25.9 million to settle U.S. Consumer Financial Protection Bureau (CFPB) charges it intentionally discriminated against credit card applicants who the bank identified as Armenian-American based on their last names. The regulator said on Wednesday that from 2015 to 2021, Citigroup managers trained employees to stereotype applicants suspected of being of Armenian descent because their last names ended in "ian" and "yan," believing them likely to commit fraud. Many victims were in Glendale, California, which is sometimes nicknamed "Little Armenia" and is home to about 15% of the Armenian-American population in the United States.


News source: https://finance.yahoo.com/news/citigroup-pay-25-9-million-134541345.html

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