Citibank Attacks Gun Rights, Says It’s Acting Because Congress Won’t

   03.22.18

Citibank Attacks Gun Rights, Says It’s Acting Because Congress Won’t

Citibank is going to boot business that don’t comply with its ideas about gun control, specifically:

Under this new policy, we will require new retail sector clients or partners to adhere to these best practices: (1) they don’t sell firearms to someone who hasn’t passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they don’t sell bump stocks or high-capacity magazines. This policy will apply across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label.

They’re not stopping at changing their own policies, but they want to get the other big banks together and get everyone else to change theirs, too:

For that reason, we would like to convene those in the financial services industry and other stakeholders to tackle these challenges together and see what we can do. This approach has worked well in areas such as sustainability, where the Equator Principles ushered in a new era of environmentally and socially responsible financing practices. We hope to leverage collective action to encourage responsible practices by all who sell firearms.

I really don’t have a lot to say on this that I haven’t already said on Twitter:

These large banks are ungovernable and unaccountable and now they’re coming for your constitutional rights.

There are really only two things to be done, here: 1) move your money out of Citi and cancel any Citi-backed credit cards, and 2) pressure your legislators to break up the big banks and rein them in, Citi especially.

If there isn’t enough backlash to this, it will spread.

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