CFPB v. Citibank, N.A.

Citibank, N.A. allegedly violated the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B by discriminating against certain credit card applicants based on their national origin, according to CFPB. Citibank also allegedly 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 national origin, according to CFPB. Citibank’s violations of ECOA also constitute violations of the CFPA, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release