Citigroup will stop doing business with companies that allow certain gun sales — here’s the memo

Citigroup will stop doing business with companies that allow certain gun sales — here’s the memo

  • Citigroup announced it would require its clients to adopt stricter standards for firearm sales.
  • The new policy requires companies to restrict sales of guns to people over 21 years old who have passed a background check. It also prohibits selling bump stocks or high-capacity magazines.
  • Citigroup said it would stop doing business with clients — from small companies to institutional giants — that don’t adopt the policy.

CITIGROUP

The US banking giant Citigroup is requiring its clients to impose stricter standards for gun sales — and says it will stop doing business with those that don’t.

Citigroup CEO Michael Corbat announced in a memo Thursday that the bank was instituting a new commercial firearms policy “designed to respect the rights of responsible gun owners while helping to keep firearms out of the wrong hands.”

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