Sen. Adam Schiff (D-Calif.) led a group of Congress members in sending a letter to the Consumer Financial Protection Bureau (CFPB) requesting answers on its cancellation of a $25 million settlement with Citibank which addressed alleged discrimination against Armenian American consumers.

According to the letter, the CFPB’s order found that it was Citi’s practice to “apply extra scrutiny to, negatively assess, and often deny certain credit card applications based on Armenian national origin.”

In November 2023, the CFPB issued a consent order that found that Citi discriminated against consumers based on national origin, violating the Equal Credit Opportunity Act (ECOA), Regulation B, and the Dodd-Frank Wall Street Reform and Consumer Protection Act. Citibank was required to pay $1.4 million to the affected consumers and a $24.5 million civil penalty.

The consent order was intended to stay in effect until 2028, but the CFPB terminated the order in 2025, claiming that Citi “has fulfilled certain obligations in the consent order,” including paying the civil penalty, making redress payments and “taking steps to implement injunctive relief to prevent future violations” of the consent order,” the letter stated.

“The decision to terminate the consent order is a clear abdication of this responsibility, and casts significant doubt on the CFPB’s commitment to protecting the Armenian American community and enforcing the [ECOA] on behalf of all Americans,” the letter continued. 

The letter requested answers to the following questions by May 7:

• What was the justification for terminating the order three years early?
• What obligations has Citi fulfilled and not fulfilled under the order?

• In the 2023 consent order, the CFPB found that Citi’s “pattern or practice of discrimination is not explained by a legitimate, non-discriminatory reason.” Does the current leadership of the CFPB agree with this assessment?  
• How many of the victims have received redress payments?  
• What was the total amount Citi paid directly to victims?  
• Are there any victims who have not received any redress payments? If yes, how many? 
• The CFPB’s consent order required Citi to both stop any unlawful behavior and implement new measures to ensure future compliance. What procedures and policies has Citi implemented to meet this obligation?
• Did the CFPB receive direction, instruction, suggestions, or other communication from White House officials to terminate the consent order against Citi?
• What actions have been taken to hold Citi supervisors and employees responsible for these allegedly discriminatory practices? 

The letter was signed by Sens. Alex Padilla (D-Calif.), Elizabeth Warren (D-Mass.) and Edward Markey (D-Mass.) and Reps. Judy Chu (D-Calif.-28), Laura Friedman (D-Calif.-30), Luz Rivas (D-Calif.-29) and Brad Sherman (D-Calif.-32).