Citigroup imposes Restrictions on Gun Stores

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  • mesmithwesson

    Active Member
    Jan 8, 2013
    694
    I have been getting quarterly statements from [name redacted] for the last 12 years. the same 0.12 is in the account, and has been forever.

    I am pretty sure that the legal, compliance, and accounting costs, not to mention the stamps, have far outstripped the 0.12 in the account.

    Maybe someday I will make them send me a check for 0.12.

    :thumbsup:
     

    adit

    ReMember
    MDS Supporter
    Feb 20, 2013
    19,514
    DE
    Sen. Kennedy (R-La.) Responds To Citigroup’s Criticism

    https://www.kennedy.senate.gov/public/press-releases?id=7062E231-09F5-4D1D-9468-91ECDC724AA7

    Oct 05 2018

    WASHINGTON, D.C. – Sen. John Kennedy (R-La.) issued the following statement today after Citigroup accused him of trying to politicize the competitive process through his legislation, the No Red and Blue Banks Act.

    The bill, which was introduced this week, would ensure that banks like Citigroup and Bank of America, which enacted policies infringing on the Second Amendment rights of businesses, will not be awarded lucrative federal government contracts. Citi told news media: “It is disappointing that some are attempting to politicize the competitive process through which we bid to provide critical financial services to the government as a result.”

    Citigroup and Bank of America’s copy of the U.S. Constitution doesn’t include the Second Amendment, and they’re trying to force that version down the American people’s throats. These banks would be dead broke if it weren’t for the American taxpayers bailing them out,” said Sen. Kennedy. “We don’t need red banks. We don’t need blue banks. We need financially stable banks. Citigroup and Bank of America need to stop playing politics and focus on their balance sheets.”

    Background:
    •On March 22, Citigroup issued a press release detailing how it will penalize banking clients who follow federal, state and local laws. Citigroup’s new policy tells businesses what kind of firearms and accessories they can stock in their stores, and who they can sell them to.
    •On April 10, Bank of America announced that it will no longer loan money to businesses that manufacture semi-automatic rifles.
    •Sen. Kennedy has previously made remarks on the Senate floor about this important issue.
    On October 2, Sen. Kennedy filed legislation to prohibit the federal government from giving contracts to banks that discriminate against lawful businesses based solely on social policy considerations.
    •Citigroup responded to the legislation with the following statement: “(Citigroup) adopted this policy because we believe it is a positive and balanced step to promote gun safety without undermining free markets or Second Amendment rights. It is disappointing that some are attempting to politicize the competitive process through which we bid to provide critical financial services to the government as a result.”
     
    Citigroup.....They need to feel the consequences of their actions from the entire firearms community. When big business flexes their muscle and takes steps to infringe upon the rights of the citizenry there should be a price to pay....... and only WE the People can speak with our wallets.

    We are fortunate that Sen. Kennedy Took this action........Citigroup s doing exactly what they claim they are not doing. It is not positive or balanced and it does undermine free markets and infringe on second amendment rights contrary to what they are saying. It reminds me of Obama tactics say one thing and do another.....Just more empty suits with smoke and mirrors.

    “(Citigroup) adopted this policy because we believe it is a positive and balanced step to promote gun safety without undermining free markets or Second Amendment rights. It is disappointing that some are attempting to politicize the competitive process through which we bid to provide critical financial services to the government as a result.”
     

    NoMoreTreadingOnUs

    Active Member
    Apr 2, 2013
    159
    Garrett County
    Have been a Citi customer for many years but would switch in a heartbeat due to their position on this. Anyone know of any alternatives known to be pro-2A? Or at least silent on the point?
     

    JB62

    Ultimate Member
    Mar 5, 2013
    1,498
    Annapolis
    M&T ???

    Not sure of their stance but a fan of their banking, have not seen them make any statements or actions like the others.
     

    Mike

    Propietario de casa, Toluca, México
    MDS Supporter
    Have been a Citi customer for many years but would switch in a heartbeat due to their position on this. Anyone know of any alternatives known to be pro-2A? Or at least silent on the point?

    there is this...

    SunTrust Statement on Certain Account Closures
    Aug 8, 2014

    ATLANTA -- SunTrust today made the following statement related to certain account closures.

    "SunTrust is pro-small business, and we are proud to serve more than 400,000 small business clients.

    SunTrust fully supports all of the rights that Americans are granted under the Constitution, and we continue to maintain banking relationships with licensed firearms dealers.

    It is consistent with long-standing industry practice to review relationships to ensure they satisfy a range of business and risk considerations. We have decided to discontinue banking relationships with three types of businesses – specifically payday lenders, pawn shops and dedicated check-cashers – due to compliance requirements.

    We remain committed to serving the needs of our communities while meeting the standards of our industry."

    And they support the military per this link
    https://www.suntrust.com/military
     

    edrod68

    Active Member
    Jun 6, 2013
    664
    Westminster, MD
    M&T ???

    Not sure of their stance but a fan of their banking, have not seen them make any statements or actions like the others.

    Sorry, M&T can suck it....they completely screwed myself and business partners over for our business.....would NEVER bank with this group of backstabbers EVER again....
     

    Mike

    Propietario de casa, Toluca, México
    MDS Supporter

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