ANCA-WR Condemns CFPB for Abandoning Citibank Anti-Discrimination Order

Los Angeles, CA – The Armenian National Committee of America – Western Region (ANCA-WR) strongly condemns the decision by the Consumer Financial Protection Bureau (CFPB) to terminate its enforcement order against Citibank three years earlier than scheduled in a case involving discriminatory credit-card application practices against Armenian-Americans.

In 2023, Citibank entered into a consent order agreeing to pay nearly $26 million in fines and restitution after it was found to have deliberately discriminated against applicants with Armenian surnames ending in “-ian” and “-yan.” The bank’s employees reportedly targeted these names to deny credit, falsify records, and conceal their actions. The consent order was intended to remain in effect until 2028, ensuring long-term oversight and accountability.

This decision is especially troubling given that reports of anti-Armenian banking discrimination have continued well into 2025. Earlier this year, the Los Angeles Civil + Human Rights and Equity Department publicly acknowledged receiving ongoing claims from members of the Armenian-American community alleging continued unfair treatment by financial institutions. Ending Citibank’s consent order early, at a time when reports of anti-Armenian banking discrimination continue, signals a dangerous retreat from accountability and undermines confidence in the government’s commitment to fair lending and banking practices.

“Ending this enforcement order early sends a troubling message that discrimination against Armenian-Americans and other minority groups will not be met with the full measure of accountability,” said Oshin Harootoonian, Chair of ANCA-WR Board of Directors. “Regulators must uphold their responsibility to protect all communities equally and ensure that no institution escapes the consequences of bias and bigotry.”

The ANCA-WR calls on the CFPB to reverse its decision, publicly explain its rationale for lifting the order, reaffirm its commitment to fair-lending enforcement, and ensure that future cases of discrimination, especially those targeting Armenian-Americans, are handled with the transparency, diligence, and seriousness that justice demands. The ANCA-WR also urges federal and state lawmakers to strengthen legislative protections that prevent financial institutions from engaging in discriminatory practices against Armenian-Americans and all minority communities.