On November 8, 2023, the Bureau issued an order against Citibank, N.A., which is a national bank headquartered in New York City, New York. The Bureau found that Citibank violated the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B by discriminating against certain credit card applicants based on their national origin. Specifically, from at least 2015 through 2021, Citibank employees applied extra scrutiny to, negatively assessed, and often denied, certain credit card applications based on the applicants’ Armenian national origin. The Bureau also found that Citibank failed to provide applicants with an accurate and adequate statement of the specific reasons for the adverse action when the applicant was denied based on their Armenian national origin in violation of ECOA and Regulation B. Citibank’s violations of ECOA also constitute violations of the CFPA. The order requires Citibank to provide $1.4 million in redress to consumers and pay a $24.5 million civil money penalty. The order also requires Citibank to stop its illegal discrimination and take measures to ensure future compliance, including increasing oversight of communications and training materials concerning the manual underwriting of consumer credit card applications.