WASHINGTON, D.C. – Today, U.S. Senator Adam Schiff (D-Calif.) led a bicameral group of Senators and Mem- bers of Congress in pushing for answers on Consumer Financial Protection Bu- reau’s (CFPB) Acting Director Russell Vought’s cancellation of a $25 million settlement holding Citibank accountable for their discrimination against Arme- nian American banking customers. For years, Citibank singled out Ar- menian Americans, targeting applicants in the state of California whose last names ended in “-ian” and “-yan” – common Armenian surnames. A federal investigation concluded that Citibank intentionally denied credit card applica- tions and engaged in openly discrimina- tory practices. In 2023, they were fined $25 million. “On October 16, 2025, the CFPB terminated the consent order, claiming that Citi “has fulfilled certain obliga- tions” laid out in the consent order. The Bureau claimed these obligations includ- ed paying a $24.5 million civil money penalty, making redress payments, and “taking steps to implement injunctive relief to prevent future violations” of the consent order. This termination ef- fectively invalidates the consent order, even though CFPB originally intended for it to remain in effect until 2028,” the lawmakers wrote. The lawmakers argue that no clear justifications were made leading to the Trump administration’s decision to ter- minate the consent order – a decision that is in clear violation of CFPB’s re- sponsibility to protect consumers and ensure equal access to credit. “As detailed in the CFPB’s findings, Citi employees allegedly targeted ap- plicants in the state of California whose last names ended in “-ian” and “-yan,” which are common parts of Armenian surnames, particularly applicants whose addresses were in or near Glendale, California, home to a large and vibrant Armenian community. Citi employees also referred to applicants as “Armenian bad guys” and the “Southern California Armenian Mafia” and negatively sin- gling out their creditworthiness, behav- ior which was actively encouraged by supervisors and trainers,” the lawmakers wrote. “The decision to terminate the con- sent order is a clear abdication of this re- sponsibility, and casts significant doubt on the CFPB’s commitment to protecting the Armenian American community and enforcing the Equal Credit Opportunity Act on behalf of all Americans,” the lawmakers concluded. The letter was signed by U.S. Sena- tors Alex Padilla (D-Calif.), Elizabeth Warren (D-Mass.), and Edward Mar- key (D-Mass.) and U.S. Representatives Judy Chu (D-Calif.-28), Laura Friedman (D-Calif.-30), Luz Rivas (D-Calif.-29), and Brad Sherman (D-Calif.-32). In the wake of the Citibank rev- elations and settlement, Schiff sought further accountability from Citibank through a letter to then-Acting Comp- troller of the Currency Michael J. Hsu, urging the agency to investigate Ci- tibank’s discriminatory practices against Armenian Americans. In October 2025, Senator Schiff sought further accountability from Ci- tibank to investigate their discriminatory practices against Armenian Americans.