Posted on 03/22/2018 12:28:43 PM PDT by TigerClaws
Citigroup is putting new restrictions on how and when its corporate clients can sell guns.
The company said Thursday that it will bar companies that it does business with from selling guns to people under the age of 21 and require customers to undergo background checks for all firearm purchases.
Citigroup (C) also banned its clients from selling high-capacity magazines and bump stocks, a gun accessory that was used by the shooter that murdered more than 50 people in Las Vegas in October. Powered by SmartAsset.com SmartAsset.com
The news was reported earlier by The New York Times and confirmed by the company.
The rules will apply to Citigroup clients "across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label."
The new policy will not prevent Citi cardholders from using their credit cards to buy firearms or ammunition.
The bank says it has "few relationships with companies that manufacture firearms."
Related: YouTube restricts gun videos
Citigroup also said it's prepared to lose business if its clients don't comply.
"We know our clients also care about these issues and we have begun to engage with them in the hope that they will adopt these best practices over the coming months," the bank said in a blog post. "If they opt not to, we will respect their decision and work with them to transition their business away from Citi."
(Excerpt) Read more at money.cnn.com ...
Nothing but empty virtue signalling.
This is against the law as it restricts the rights of the individual to take part in legal transactions. If cash can be used to purchase guns (and it can) then it is illegal to restrict DEBIT card usage in the same way as that’s a proxy of your cash.
I’d argue credit is the same way but that’s a bit more grey as you’re using the banks money and they have some rights there.
For those planning to dump them - Citi is the provider for all Sears, Macy’s, and BestBuy credit cards.
I closed my BB card.
Here we go again with the "feeling" instead of the thinking...
Can enough boycott push back? Doubtful.
Interesting. Remember how First Nat’l Bank of Omaha (FNBO) is dropping NRA MasterCards, in a show of righteousness? I wonder whether FNBO will come out with additional restrictions like citi is doing.
These places are taking a HUGE gamble, IMHO, to think that liberals are going to make up for their business losses from the ticked-off conservatives, who refuse to do business with them in the future.
How’s it working for Dick’s? What about JCPenney, since they started promoting 2-daddy families? Or the NFL, since they turned into a social justice organization, instead of a football league?
The good news is that we seem to be making some progress in sending our message to these “holier than thou” businesses.
I don’t like it, as the purchases sales are in most cases not illegal.
However, on the law side, the agreements between CITIGroup and the businesses it provides card services for amount to private contracts, and they are not bound by “anti discrimination” laws as such laws have not codified “gun ownership” as a “protected class” with those laws.
Now then, if only Dims had equal respect for the private contract rights of Conservative businesses.
as if it were any of the bank’s business who we deal with or what we decide to purchase?
what arrogance!
I’ll be happy to add Citi to my corporate banned company list.
We will not make payments to or do business with ones that do business with Citi.
It is called extortion and it is illegal.
Dick’s Sporting Goods tried to ban gun sales. Now CitiBank is showing that they too are nothing but Dick’s.
Retailers need to reclassify all that stuff t wedding cakes and photography services.
...and Costco.
Unfortunately the law does not call it “extortion”, and as much as I don’t like it is not illegal.
“I don’t like it, as the purchases sales are in most cases not illegal.
However, on the law side, the agreements between CITIGroup and the businesses it provides card services for amount to private contracts, and they are not bound by “anti discrimination” laws as such laws have not codified “gun ownership” as a “protected class” with those laws.
Now then, if only Dims had equal respect for the private contract rights of Conservative businesses.”
Agree and you raise a good point. If the cake bakers had structured their business so that each transaction was a personal contract between the shop and the customer, might they have been able to sidestep the gay couple trouble by simply stating “we have no contract with these people?” Doesn’t matter why we don’t have a contract...
KYPD
All flowing from Hussein’s Operation Choke point anti gun banking plans.
It is still unlawful discrimination on the count of age.
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