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Citigroup has been fined over $25 million by the Consumer Financial Protection Bureau (CFPB) for discriminating against Armenian Americans in credit card applications. Employees referred to applicants as 'Armenian bad guys' and the 'Southern California Armenian Mafia' and were instructed not to discuss the practice in emails. The bank agreed to pay $25.9 million in fines and redress for illegally discriminating against credit-card applicants identified as Armenian American. The CFPB director, Rohit Chopra, stated that Citi stereotyped Armenians as prone to crime and fraud and illegally fabricated documents to cover up its discrimination.
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“Citi stereotyped Armenians as prone to crime and fraud,” said Rohit Chopra, director of the CFPB. “In reality, Citi illegally fabricated documents to cover up its discrimination.” https://t.co/OFSS3xLmgx
Citigroup agreed to pay $25.9 mln to settle Consumer Financial Protection Bureau charges it intentionally discriminated against credit card applicants who the bank identified as Armenian-American based on their last names. By Jonathan Stempel & @tbautzer . https://t.co/42pChgIAOP
Citigroup employees labeled a group of roughly 80,000 Armenian Americans living near Los Angeles as “bad guys” and secretly denied them fair access to credit cards, the CFPB said. The bank agreed to pay $25.9 million. https://t.co/NhMqmjN2Ct
Citigroup fined $26M for discriminating against Armenian-American card applicants https://t.co/IdIE7T5LqP https://t.co/Xa8HJwsILp
Citibank is fined $25 million for discriminating against Men in Gold Chains. Some Citi employees were caught turning down credit cards for Armenians in Glendale, CA because of a pattern of running up big debts and fleeing abroad. https://t.co/EdsbcYE03u https://t.co/4GyjcFzMeX
Citigroup was fined more than $25 million for discriminating against Armenian Americans and blocking them from getting credit cards https://t.co/ZlXXXgRj4D https://t.co/ZlXXXgRj4D
Citi fined $25.9M for discriminating against Armenian Americans after government probe https://t.co/A8SfKteQ8c
Citigroup was ordered to pay $25.9 million in fines and redress for illegally discriminating against credit-card applicants the bank identified as Armenian American https://t.co/uyG7srtsi2
Citigroup to pay $25.9 mln for targeting Armenian-American card applicants https://t.co/IFBK0LUFF6 https://t.co/jKquR2WMyp
Citigroup was fined more than $25 million by the CFPB for discriminating against Armenian Americans. Employees were told not to discuss the practice in email and referred to applicants as “Armenian bad guys” or the “Southern California Armenian Mafia." https://t.co/XhG2WSq6n8