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Violation Tracker Individual Record

Company: Citibank N.A.
Current Parent Company: Citigroup
Penalty: $25,900,000
Year: 2023
Date: November 8, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: discriminatory practices (non-employment)
Secondary Offense: consumer protection violation
Mega-Scandal: Discriminatory Lending Practices
Violation Description: The Consumer Financial Protection Bureau ordered Citibank to pay $25.9 million in fines and consumer redress for intentionally and illegally discriminating against credit card applicants the bank identified as Armenian American. From 2015 through 2021, Citi singled out for discrimination applicants for certain credit card products, based on their surnames, whom it suspected of being of Armenian descent. Citi supervisors conspired to hide the discrimination by instructing employees not to discuss the discriminatory practices in writing or on recorded phone lines. Citi employees also lied about the basis of denial, providing false reasons to denied applicants.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.