CFPB has recently ordered financial services giant Citibank to pay out a hefty amount of over one million dollars for treating a group of American citizens of Armenian descent as criminals without legitimate reason. According to CFPB, Citibank discriminated against these people on the basis of their heritage, and rejected their applications for retail credit cards from 2015 to 2021. The bank also gave false reasons why these applications were being rejected, providing further evidence of their discriminatory practice. As consequence, the CFPB is not only ordering Citibank to pay out the victims affected by the discrimination, but also a hefty penalty of $24.5 million in order to ensure that such illegal practices never happen again.



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