{"id":204261,"date":"2024-07-10T10:11:40","date_gmt":"2024-07-10T15:11:40","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=204261"},"modified":"2024-07-10T10:11:47","modified_gmt":"2024-07-10T15:11:47","slug":"citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\/","title":{"rendered":"Citi Finances ‘Weapons of War’ Yet Denies Firearm Industry Banking Services"},"content":{"rendered":"\n
\"Citigroup
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<\/em>)<\/figcaption><\/figure>\n\n\n\n

<\/path><\/svg><\/span><\/span>Estimated reading time: <\/span>4<\/span> minutes<\/span><\/p>\n\n\n\n

By Joe Bartozzi<\/strong><\/p>\n\n\n\n

Citigroup, the international banking giant worth over $300 billion<\/a><\/strong>, is suffering from a case of cognitive dissonance when it comes to their banking services policies. Citigroup is holding steadfast to their refusal to provide services to firearm businesses that won\u2019t knuckle under to their gun control demands but is standing by their decision to finance actual weapons of war.<\/p>\n\n\n\n

Citgroup, last week, urged their Wall Street staff to \u201ckeep their cool\u201d when anti-Israel protestors blocked their New York City headquarters building. The protestors took issue with Citigroups\u2019s alleged financial agreement to support Israel\u2019s purchase of fighter jets from the U.S. government, according to The New York Post<\/em>.<\/p>\n\n\n\n

To be clear, NSSF believes Israel has a right to defend itself against terrorists. The horrific attacks on Oct. 7 demonstrated how critically important the Second Amendment is for Americans. The right to keep and bear arms doesn\u2019t exist in Israel and it is worth noting that their restrictive laws about civilian ownership of firearms has been relaxed since the attacks.<\/p>\n\n\n\n

Opposing Policies?<\/h2>\n\n\n\n

However, the protests at Citigroup\u2019s Manhattan headquarters exposed a duplicitous policy ideal by the corporate bank.<\/p>\n\n\n\n

\u201cWe respect the right to protest, but not at the expense of our colleagues\u2019 safety nor when others perpetuate abuse or hatred,\u201d said Ed Skyler, Citigroup\u2019s head of enterprise services and public affairs in a memo obtained by\u00a0The New York Post<\/em><\/a><\/strong>. \u201cSimply put, we do not tolerate acts of intimidation and violence, and we denounce antisemitism, Islamophobia, acts of hatred, discrimination and prejudice of any kind.\u201d<\/p>\n\n\n\n

Skyler noted in the same memo, according to The New York Post<\/em>, that much of the protestors\u2019 information was false and that financing foreign sales of U.S. military equipment requires senior level approval.<\/p>\n\n\n\n

When it comes to the lawful sale of firearms and firearm accessories, Citigroup holds a very different view. Despite the fact that the sale of firearms from a federally-licensed retailer is lawful, sold to an adult who affirms all the questions on the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) Form 4473, and is approved by the FBI\u2019s National Instant Criminal Background Check System (NICS), Citigroup contends that\u2019s not enough.<\/p>\n\n\n\n

In the case of law-abiding American adults exercising their Second Amendment rights by buying firearms, Citigroup caved to the gun control protestors and adopted a policy in 2018 to restrict services to firearm businesses that won\u2019t adopt their additional restrictions.<\/p>\n\n\n\n

Corporate Gun Control<\/h2>\n\n\n\n

Citigroup instituted a U.S. Commercial Firearms Policy<\/strong><\/a> six years ago that requires firearm retailers to agree to not sell a firearm to anyone who has not passed a background check (despite the fact that all firearm retailers are required by law to do so), enact an age-based gun ban to deny sales to law-abiding adults under the age of 21 and not sell bump stocks or \u201chigh-capacity\u201d magazines \u2013 what most firearm owners refer to as \u201cstandard-capacity\u201d magazines.<\/p>\n\n\n\n

That policy applies to small businesses, commercial and institutional clients and credit card partners, whether co-branded or private label. The policy doesn\u2019t restrict consumers use of their Citi-branded credit cards at any merchant.<\/p>\n\n\n\n

Citigroup\u2019s policy also doesn\u2019t take into consideration that bump stocks and standard-capacity magazines are legal products. Only 14 states and the District of Columbia have unlawful magazine restrictions. Seventeen states and the District of Columbia have bans on bump stocks.<\/p>\n\n\n\n

SEE ALSO: When Banks Attack: Citigroup\u2019s Anti-Gun Policies May Provide \u2018Template\u2019 for Others<\/a><\/h2>\n\n\n\n

This discriminatory policy has impacted Citigroup\u2019s ability to do business. Sixteen states have adopted some form of the NSSF-supported Firearm Industry Nondiscrimination (FIND) Act<\/a><\/strong>. Louisiana\u2019s Gov. Jeff Landry was the latest to sign<\/a><\/strong> the law into effect that prohibits corporations from competing for municipal bonds if they cannot certify that they don\u2019t hold a discriminatory policy against the firearm industry. Citigroup forfeited $3.4 billion<\/strong><\/a> in municipal bond deals because it knuckled under to gun control demands to require restrictions that are outside of the law.<\/p>\n\n\n\n

Citigroup might be telling their staff to \u201ckeep their cool\u201d about protestors, but there\u2019s a lesson for their executives to follow when it comes to discriminatory lending practices to an industry that makes and sells lawful products to law-abiding citizens.<\/p>\n\n\n\n

Joe Bartozzi<\/strong>\u00a0is the President and CEO of the National Shooting Sports Foundation (\u201cNSSF\u201d), the Sporting Arms and Ammunition Manufacturers\u2019 Institute (\u201cSAAMI\u201d) and the Chairman of the Project ChildSafe\u00ae Foundation.<\/em><\/p>\n\n\n\n

*** Buy and Sell on GunsAmerica!<\/a> ***<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Citigroup is holding steadfast to their refusal to provide services to firearm businesses that won\u2019t knuckle under to their gun control demands but is standing by their decision to finance actual weapons of war.<\/p>\n","protected":false},"author":115,"featured_media":108467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_specdata_upc":"","_specdata_placement":"","footnotes":""},"categories":[244,25,240],"tags":[132,607,311],"featured":[],"hunt365":[],"class_list":{"0":"post-204261","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-2nd-amendment-r2kba","8":"category-current-events","9":"category-this-week","10":"tag-buzz","11":"tag-news","12":"tag-nssf"},"yoast_head":"\nCiti Finances 'Weapons of War' Yet Denies 2A Industry Banking<\/title>\n<meta name=\"description\" content=\"Learn about Citigroup's contradictory banking services policies and their stance on firearm businesses and financing "weapons of war."\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gunsamerica.com\/digest\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citi Finances 'Weapons of War' Yet Denies Firearm Industry Banking Services\" \/>\n<meta property=\"og:description\" content=\"Citigroup is holding steadfast to their refusal to provide services to firearm businesses that won\u2019t knuckle under to their gun control demands but is standing by their decision to finance actual weapons of war.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gunsamerica.com\/digest\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\/\" \/>\n<meta property=\"og:site_name\" content=\"Gun Reviews and News | GunsAmerica.com\/Digest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gunsamerica\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-10T15:11:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-10T15:11:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2019\/04\/citi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Wire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gunsamerica\" \/>\n<meta name=\"twitter:site\" content=\"@gunsamerica\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Wire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\\\/\"},\"author\":{\"name\":\"News Wire\",\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/#\\\/schema\\\/person\\\/87634856a7e290d26d603f784a635a65\"},\"headline\":\"Citi Finances ‘Weapons of War’ Yet Denies Firearm Industry Banking Services\",\"datePublished\":\"2024-07-10T15:11:40+00:00\",\"dateModified\":\"2024-07-10T15:11:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\\\/\"},\"wordCount\":785,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/citi-finances-weapons-of-war-yet-denies-firearm-industry-banking-services\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gunsamerica.com\\\/digest\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/citi.jpg\",\"keywords\":[\"Buzz\",\"News\",\"NSSF\"],\"articleSection\":[\"2nd Amendment - 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