Citibank Fined $25M for Discriminatory Lending

The Office of the Comptroller of the Currency (OCC) announced Tuesday that it has fined Citibank $25 million for violating the Fair Housing Act. The civil money penalty will be paid to the U.S. Treasury.

In addition to the fine, the bank will reimburse 24,000 customers approximately $24 million.

In its consent order, the OCC said that Citibank "had certain control weaknesses related to its Relationship Loan Pricing (RLP) program," and, as a result, some eligible borrowers who did not receive the RLP benefit "were adversely affected on the basis of their race, color, national origin, or sex."