Washington, D.C.— Today, Representative Adam Schiff (D-Calif) issued the following statement on the Consumer Financial Protection Bureau (CFPB) announcing a $25.9 million fine against Citibank for illegally discriminating against Armenian American credit card applicants.
Schiff’s 30th Congressional District, which includes the cities of Burbank and Glendale, is home to the largest Armenian diaspora outside of Armenia. He serves as Vice Chair of the Congressional Armenian Caucus.
“It is shameful that Citibank deliberately discriminated against Armenian Americans, denying credit to people on the basis of their last names and ethnic origin. All personnel responsible for participating in and then attempting to cover up this unlawful practice should be terminated from the company.
“While I welcome the Consumer Financial Protection Bureau’s action, I’m committed to holding banks and other institutions accountable for any such actions. We must ensure that overt discrimination like this never happens again,” said Representative Schiff, Vice Chair of the Armenian Congressional Caucus.
Guidance for Affected Consumers
Consumers who applied for a Citi Retail Services Credit Card between January 1, 2015, and December 31, 2021, and are identified as having been denied the credit card based on national origin discrimination are eligible for redress. Consumers can submit complaints about financial products and services by visiting the CFPB’s website or by calling (855) 411-CFPB (2372).
Background
Schiff has long represented the largest Armenian diaspora community in the country and serves as Vice Chair of the Congressional Armenian Caucus. For decades, he has fought side-by-side with his Armenian American constituents for the recognition of their history, as survivors of the first genocide of the 20th century, and for the protection of their future and the futures of their families and loved ones working for freedom abroad.