Citibank N.A. has agreed to pay a $25 million civil penalty for allegedly violating the Fair Housing Act by failing to offer all eligible customers mortgage discounts and credits, adversely affecting some borrowers on the basis of sex, race, nationality or color.
Under the consent order with the Office of the Comptroller of the Currency, the bank also agreed to reimburse $24 million to about 24,000 customers for failing to offer them mortgage discounts that they were eligible for under a loan pricing program at Citibank, the OCC said in a statement Tuesday. The OCC said the bank has largely completed a plan to reimburse its customers. The fine will be paid to the U.S. Treasury.
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