Citigroup has been mandated to compensate $25.9 million for engaging in unlawful discrimination against individuals of Armenian American heritage. Regulatory authorities have determined that the bank unfairly targeted Armenian-descent applicants, erroneously perceiving them as more inclined to commit fraud, and provided training to staff members to reject credit card applications solely based on common Armenian surname suffixes.
Similar discriminatory practices were identified in applications originating from Glendale, California, where approximately 15% of Armenian Americans reside. Citi, while acknowledging that a limited number of its employees engaged in improper actions, will disburse $24.5 million in penalties and provide $1.4 million in restitution to affected customers.
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