Citibank To Pay $25.9 Million For Discrimination Against Armenian Americans
The CFPB said the bank treated credit card applicants as criminals.
Source: ibtimes.com
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CFPB's Proposed Open Banking Rule Will Require Mind Shift For Banks
If adopted, this requirement would bring consumer-permissioned financial data sharing to the US in a formal way for the first time.
Source: forbes.com
US Consumer Watchdog Proposes Regulations for Big Tech Payment Companies
The Consumer Financial Protection Bureau (CFPB) proposed to regulate digital payment companies and smartphone wallet services citing its competitive nature to traditional payment methods and lack of consumer safeguards.
Source: itechpost.com
CFPB fines Citi $26 million for discrimination against Armenian Americans
The Consumer Financial Protection Bureau ordered Citibank to pay $25.9 million in fines and consumer redress for intentional and illegal discrimination...
Source: marketwatch.com
Citigroup fined $26M for discriminating against Armenian American card applicants
Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards, the Consumer Financial Protection Bureau said Wednesday, as the bank argued internally that Armenians were more likely to commit fraud and referred to applicants as “bad guys” or affiliated with organized crime.
Source: nypost.com