Major US Bank Will Hand Out $1,400,000 for Treating Group of Americans As Criminals, Giving 'Fake Reasons’ To Deny Services: CFPB - The Daily Hodl

• The Consumer Financial Protection Bureau (CFPB) has ordered Citibank to pay over a million dollars to potential customers who were denied services based on their heritage.
• Citi violated the Equal Credit Opportunity Act by discriminating against Armenian Americans between 2015 and 2021 when denying their applications for retail credit cards.
• Citi targeted applicants with surnames associated with Armenian national origin, particularly those ending in "-ian" and "-yan."
• Citi employees received instructions from mid-level managers to recognize applicants of Armenian descent and use various means to reject their applications.
• Employees gave fake reasons for rejecting applications, including blaming the applicant for the denial.
• The CFPB is ordering Citi to pay $1.4 million to credit card applicants who were rejected due to national origin and a $24.5 million penalty.

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