In 2008 the American taxpayer was a “client without a voice” when Citi-Group demanded a financial bailout. TARP followed as the largest bailout in history, and Citibank got the biggest bailout of all:
The final report from the Congressional Oversight Panel found that between TARP, the FDIC, and the Federal Reserve, Citigroup received the most federal funding during the financial crisis for a total of $476.2 billion in cash and guarantees. (link)
Fast forward ten years and now Citibank announces their intent to restrict business enterprise engaged in the Second Amendment, firearm sales. The motive is transparent; leadership within Citi-group are opponents to gun ownership and they have now made a decision to use their financial business as a weapon to enforce their political beliefs:
[…] Today, our CEO announced Citi is instituting a new U.S. Commercial Firearms Policy. […] 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. (more)
It is important to keep in mind that all three issues outlined by Citibank are not unlawful; these are social policies around firearm sales that Citibank is initiating on their own. If you follow the underlying policy to a reasonable outcome, the same approach could be taken toward barring auto dealers (who use Citi-financial products) from selling gasoline powered automobiles, because the people running Citibank are environmentalists.





