In an irrational reaction to the Parkland shooting, the fourth-largest bank in the U.S., Citigroup, has announced it will tell its customers which firearms related products they may sell and how they may sell them.
The new firearms policy applies to all Citibank commercial clients who offer credit cards backed by Citigroup or who borrow money, use banking services, or raise capital through the company but will not prevent Citigroup credit card holders from using their credit cards to buy firearms or ammunition.
Citigroup’s U.S. Commercial Firearms Policy now prohibits retailers from:
Selling a firearm to any customer who has not passed a background check
Who is younger than 21
Bans retailers from selling “high-capacity” magazines and bump stocks.
Fortunately, Citigroup does not have the technology nor the legal ability to monitor gun purchases at the payment processing level but they are seeking that capability. Citigroup says if business customers decline to abide by its restrictions, the bank will work with them to “transition their business away.”
We can help Citibank by transitioning our business away to other banks less concerned with virtue signaling and more interested in civil rights.
Image courtesy of Citibank
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