SoCal couple speaks out amid investigation into alleged anti-Armenian bank discrimination
LOS ANGELES (KABC) -- Closed credit cards, closed safety deposit boxes and closed college savings accounts. Two people say they've experienced it all with their bank, and they believe it's because they're Armenian.
"A lot of confusion, a lot of unknowns," John Akopyan told Eyewitness News.
Akopyan's wife, Karolyn Ebrahamian, said she feels hurt and embarrassed.
Akopyan and Ebrahamian said they've had a relationship with their bank for more than 20 years. When they sold their company, they said they told the bank a large amount of money was going to their account.
"We had given them written notice from our attorneys that we would have money coming in," Akopyan said.
They said that's when the problems started with their accounts.
"I still had no idea why my credit cards are closing. I'm getting declined. Come to find out they're both owned by the same company and their credit cards are owned by Citibank," Ebrahamian said.
They were sent a letter to close down their safety deposit box. They say they were also told to close down their children's college 529 accounts.
"Every time you would have a transaction, they would freeze it," Akopyan said. "Then you'd have to call them. Then they'd say we have to talk to our people."
Their attorney, Tamar Arminak, claims they've gone back years and found records they feel shows her clients and others faced discrimination because of their Armenian background.
"We have found closing of bank accounts without any notice just based on 'ian' or 'yan' ending the last name, and specifically targeting the Glendale area. Zip codes associated with the Glendale area," Arminak said.
The Los Angeles Civil + Human Rights and Equity Department says it received dozens of complaints from others, and it involves at least three major banks.
"From folks that have had their bank accounts closed without notice or explanation, they've been denied credit when folks similarly situated to them have been granted credit," said Capri Maddox, executive director of L.A. Civil Rights. "We also have checks from their employers put on extensive holds."
"When you start seeing a pattern, it becomes problematic. That then becomes very discriminatory," said Lucy Varpetian with the Armenian Bar Association, which is also filing complaints.
"In November of 2023, there was federal action that was taken, and a major bank was fined over $25 million," Varpetian said. "That then prompted us to continue to seek input from our community."
Akopyan and Ebrahamian said they followed the rules and they did nothing wrong.
"Even until today, we're suffering the collateral damages of what they did," Akopyan said. "I don't think they realize how many people they affected."
Eyewitness News contacted Citibank about the allegations, and a spokesperson said the company declines to comment.
