Citigroup (C) Applicants Discrimination Case

• On November 8, 2023, the Consumer Financial Protection Bureau announced it had ordered Citigroup (C) subsidiary Citibank NA to pay $25.9 million to resolve discrimination claims.

• On it, on November 8-9, 2023 $C fell 1.1%, losing $875M+ of shareholder value.

• Investors may have grounds to suspect Citigroup of practicing discrimination, which led to their losses.

On November 8, 2023, the Consumer Financial Protection Bureau announced it had ordered Citigroup subsidiary Citibank NA to pay $25.9 million to resolve claims that Citibank had intentionally discriminated against credit card applicants with Armenian-looking last names.

On this news, on November 8-9, 2023 $C fell 1.1% and lost over $875 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Citigroup engaged in intentional discrimination, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.