Citigroup’s CEO doesn’t believe they restrict Second Amendment rights — they just don’t do business with companies that make certain gun parts. (Photo: Citigroup Facebook)
Citigroup’s anti-gun lending policies pose no threat to Second Amendment rights, according to the company’s CEO.
In the wake of the Parkland massacre, the New York bank pulled its business from retail stores that sell guns to anyone under 21 or whose inventory includes bump stocks or high-capacity magazines. Now company executives are saying that move does not put restrictions on gun ownership.
“We are not threatening people, and we are certainly not threatening the Second Amendment,” said Citigroup CEO Michael Corbat at the company’s annual shareholders meeting on Tuesday.
“What our policy seeks to do is not put restrictions on gun ownership, but really try and institute a series of best practices that have, hopefully, a chance of keeping guns out of the wrong people’s hands. We’ve worked with a number of retailers to come up with what we think some of those best practices are.”
SEE ALSO: When Banks Attack: Citigroup’s Anti-Gun Policies May Provide ‘Template’ for Others
Justin Danhof, general counsel for the National Center for Public Policy Research, disagreed. He told Corbat in the meeting that Citigroup has no right to play the judge and jury when it comes to the Second Amendment.
“Citigroup has no business threatening law-abiding business owners for exercising their Second Amendment rights,” Danhof told Corbat and the company’s board.
Danhof also noted that the company owes its existence to American taxpayers after Citigroup accepted a $45 billion government bailout in 2008.
“To be clear, the company is impinging on the constitutional rights of some of the very Americans who bailed Citi out after you all made a series of poor business decisions,” he told Citi officials. “Maybe you should have just said ‘thank you,’ instead.”
To underscore his point, Danhof noted that investment guru Warren Buffett flatly refused to force his own left-leaning viewpoints on his business partners.
SEE ALSO: Legislation Would Stop Big Banks from Defunding Gun Makers, Sellers
“I don’t think that we should have a question on the Geico policyholder form, ‘Are you an NRA member?'” Buffett told investors at a recent annual meeting in Omaha, Nebraska, according to Danhof. “And if you are, you just aren’t good enough for us or something.’ I think I do not believe in imposing my political opinions on the activities of our businesses.”
Despite his objections, Danhof doesn’t see Citigroup — or any other anti-gun bank — changing its policies any time soon.
“I see increasing activism on the Left on this issue,” Danhof told the Washington Examiner. “It’s an all-out assault on gun companies, gun manufacturers and any way that they were going to get financing. It’s a growing, not a shrinking, concern.”
“They are adding voice and heft, and now, financial heft, to those who would abolish the Second Amendment if they could,” Danhof continued. “The Left is dogged on this issue, and they know the way to have the greatest impact is through banks and credit cards.”
So Citigroup, you ARE attacking 2nd amendment rights….
Bulls#it. Does anybody smell Beijdein bulls@it? Demons are just that… Liars. More Beijdein bulls#it! Any questions? Remind us how our DHS is protecting us from terror attacks at the border. I dindn’t mention any airport where you like to lo!!ok at my wife’s boobs you perverts! How’s the idiots in the White House illegally going to take US CITIZENS DOWN TODAY? WHEN DO WE BOW DOWN? STOOGES?
Dear CEO, for Citigroup and it’s affiliates;
I [we] misinterpreted your affinity for posturing. We also mistakenly took you at your word and actions, to shield us from ourselves. Might it be a simple misquote of your intentions? We should believe a monolithic entity like Citi, has every facility to prepare and present statements toward a general public, exhibiting the utmost clarity such a topic warrants.
Quoting your statement ” but really try and institute a series of best practices. . .” means you are incapable of drafting succinct text without a staff; part of them retailers beholden to Citi policies and manipulation. We’ve worked with a number of retailers to come up with what we think some of those best practices are.”
It shouldn’t take board meetings to mine “best practices”; compared to reality of ‘what we can do, pushing the envelope just short of businesses and consumers leaving in droves’, ie 2008-2010.
I’ll surrender my 2A rights and exercising same in exchange for debt forgiveness and relinquish all my funds held by Citi, indicative of my sincerity.
I suggest to prove YOUR sincerity, renounce the bail-out. Withdraw and cede funds equaling 45m [+ inflation] returning you into situation engineered to acquire mortgaged properties under suspect “best practices”.
Well said Thank – You
Yes, you are! INDIRECTLY, maybe, but still attacking/restricting 2A rights. Most people reading will see that — some will applaud, but in this audience almost all will object. As others have mentioned — don’t do business with them. When you cut that Citibank sponsored card up, write to both Citibank and the retailer who issued the card and let them know WHY you cut it up. Maybe the retailer will seek another financial institution to issue their cards. If enough do it they will get politics out of their business policy!
A big F U to that Citigroup CEO!
Citi CEO: “We’re not trying to restrict your 2nd Amendment rights….” [following subtext “…we’re trying to prevent you from being able to exercise them. You’ll still have the rights, but w/o the ability to purchase a firearm, you’ll have a tough time exercising them. Neener neener!”] Best solution for a publicly-traded company: gunowners buy up shares, take control of the company & sack the gits in charge of these policies.
Yessiree. Cut up my Citibank card Costco sponsors and sent it right back to them months ago.
Liberty is sweet.
I have a citi credit card with a $0 balance but I will let it be my go to card to order online and buy a retail sporting goods ammo and high count mags guns ect. Then pay it off in 25 days. Just like always do. Got to get them where it hurts.
My wife and I cancelled our Citibank credit cards after they said 18 year old adults should not be able to buy guns. We also now shred Citibank’s credit card applications they now mail to us. I also love how they want our standard capacity magazines of 11 rounds and greater gone. But Citibank security guards I am sure are going to use standard capacity magazines to defend Citibank’s money and high up executives.
I am doing my best to support Liberty. Pray continually to God that our freedom will be preserved against tyrants.
Who wins in an America without guns, people with money and power, not the citizens of this country. One of the reasons for the 2nd Amendment is protections from just such people, groups and governments.
Citigroup isn’t threatening the 2A, they couldn’t even if they wanted to.
What they are attempting to accomplish is deprive people of their 2A rights by choking the supply points. Clever, Mr. CEO, but not as clever as you think you are.
Create a vacuum, and open up business opportunities, and someone will step in to take this business you don’t want.
Just ask the dicks at Dicks Sporting Goods.
The 2A was written by the people for the people to prevent government from infringing on our fundamental basic right of self protection and defense against a tyrannical government. The 2A was not written for the government to allow gun ownership. If not for the 2A, we would already be a defenseless nation. If it wasn’t such a serious matter, the attempts to restrict semi-automatic rifles are laughable. If a list was developed in order of magnitude of the weapons most commonly used for murder rifles wouldn’t be in the discussion but yet the gun grabbers want them. Why is that? General firearm ignorance or a subliminal government attack to eliminate competitive firepower for the people? They are attempting to whittle away at the 2A, hoping for a “Death by a thousand cuts”.
Hmmmm, the Citi CEO said “What our policy seeks to do is not put restrictions on gun ownership…” and his ongoing comment then sounded like “blah, blah, blah”. However, what I think he REALLY meant to say after that was [but we will accomplish our goal by creating a policy that seeks to put restrictions on gun ownership].
How is this any different then the bakery shop that refused services to a gay couple? They were prosecuted for exercising their constitutional rights as business owners to object to provide services based on their religious and constitutional rights. Yet Citi bank takes a stance that is only politically motivated and no one sees this a an absolute double standard? I have a two letter flag I am flying over this issue and it starts with B and ends with S!
This is akin to operation choke point Obama instituted and Trump struck down. Keep it up SJWs and continue to cut the nose off your face.
If they are serious about getting the guns out of the wrong hands, they should start with the illegal slime from south of the border. This scumb is killing cops and civilians as well and nothing is being reported or done about it. It wouldn’t surprise me a bit if Pelosi is supplying guns and ammo to them in Napa Calif.
The elitists in NY think that the unwashed in flyover country will believe his specious explanation. We are far smarter than he knows.
The “shysters” er bankers that charge exorbitant rates are determining that the 2nd Amendment is no longer in their best interest of business to support. This company should be shunned by all Americans that respect our Constitution and our freedoms.
” If the opposition disarms , well and good .
If it refuses to disarm , we shall disarm it ourselves .”
– Ioseb Jughashvili
(aka : Joseph Stalin )
More corporations showing us how they control this country, as if we needed another reminder. Citibank also owns a lot of Congressmen too.
Here’s what prohibiting lending to gun manufacturers and sellers does. It forces them to be well capitalized, and able to weather financial turbulence. While it does not allow for leveraged growth, and results in slightly higher prices, it does nothing to stop gun manufacturing, and so is in essence “feel-good” legislation that doesn’t accomplish their stated (tyrannical) goals. Lump it in with the rest of the gun laws the Left dreams up, like laws banning “assault rifles” and “large magazines” in the wake of pistol shootings. We’re dealing with the dangerously stupid here.
This is completely different then the bakery. The news never reported the whole true story, the bakery did not refuse to make a cake for a gay couple, they refused to make a cake with a penis and scrotum on it. The bakery was happy to serve gay people, just not make a pornographic cake.
Citigroup can certainly take whatever legal business approach it desires. And consumers may do business with them or not. As a businessman, I have always found it best to keep politics out of the boardroom, otherwise you are assured of only one thing: ensuring that your corporate decisions alienate some percentage of your customer base (never a good thing for any business!). I for one do not usually know about a corporation’s stance on Constitutionally-related issues unless they choose to make those views publicly known. However, when they do I take note and make my business and personal purchasing decisions accordingly. So I do not do business with any Citigroup affiliates. I also actively advise my business associates, friends, and family to do likewise. Keep it up Citigroup if you think your political stance positively impacts your bottom line.
BULLSHIT!!!!!!!
Citi Group can do business on any basis it likes, despite having taken the Hussein Obama handout. The same is true for us. I won’t be doing business with Shiti.
We have found alternate companies to do business with for Target, Dick’s and Citi; Chase may be next.
I guess that a bank can refuse to do business with anyone they want, but I can also refuse to do any business with them or any company that uses their services. There are too many banks that loan on the merit of the company’s ability to pay back the loan to mess with a bank that is trying to make a skewed political statement.
BULL!
Wow, what a concept, teaching gun safety. Knowing there are millions upon millions of guns in this country and complete confiscation is impossible, logic dictates knowledge of them is key to controlling safety. This is not new, the ideas has been around since guns were invented. Why then do the gun confiscation, control advocates not push education for gun safety? Because it is all about control. Control of you, and your freedoms. Remember these two truths:
1. When seconds count, police (help) is only minutes away, protect yourself is the only logical option.
2. When guns are outlawed and confiscated, only outlaws (criminals) will have guns to their advantage.
Time to wake-up and think America, before your rights and safety are compromised irreparably. Vote appropriately.