Citigroup Gets Early End to CFPB Armenian Discrimination Order

Citigroup Inc.’s retail banking unit won an early escape from scrutiny by the Consumer Financial Protection Bureau stemming from a Biden-era enforcement action alleging the bank discriminated against Armenian American customers.

Citigroup has already paid a $24.5 million civil penalty and made customer redress payments, according to an order posted Thursday to the CFPB’s website terminating the November 2023 settlement agreement.

The bank had agreed to pay $25.9 million to resolve CFPB claims that it singled out customers of Armenian descent based on the spelling of their surnames and illegally denied their credit card applications. The bank also instructed employees ...