A Banking Giant Announces New Gun Control Rules For Clients
America has entered a new era, where big businesses are taking increasingly aggressive steps into the political arena.
First Facebook and Google started by changing its algorithms which cut down traffic for many major independent news sites. Then Dick’s and Walmart announced major changes to their gun sales policies. Both banned anyone under 21 from buying guns at their stores, among other changes.
In a letter on its website, Citigroup announced that it would no longer do business with gun dealers who do not agree to its strict regulations for the sale of firearms.
“Today, our CEO announced Citi is instituting a new U.S. Commercial Firearms Policy. It is not centered on an ideological mission to rid the world of firearms. That is not what we seek. There are millions of Americans who use firearms for recreational and other legitimate purposes, and we respect their Constitutional right to do so,” it wrote.
“But we want to do our part as a company to prevent firearms from getting into the wrong hands. So our new policy centers around current firearms sales best practices that will guide those we do business with as a firm,” it said.
Gun rights activists argue the rules the bank has implemented is to force gun dealers to violate the Constitutional rights of United States citizens aged 18 -21.
“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. It doesn’t impact the ability of consumers to use their Citi cards at merchants of their choice,” the bank said.
One could say that a retailer could just as easily move its business to a new bank, but gun rights activists argue that is easier said than done.
Will a move like this by Citigroup incentivize other banks to follow suit out of a fear of potential boycotts from those opposed to gun ownership?
In America a business is free to do whatever it wants to do. That includes Facebook and Citigroup.
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