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Citigroup sets gun rules for its retail clients

PostPosted:Fri Mar 23, 2018 12:21 am
by claymore ... il-clients

Citigroup announced on Thursday that it won’t do business with companies unless they comply with a set of restrictions on gun sales.

The bank will prohibit clients from selling guns to people under 21 years old, becoming the latest company to set a higher minimum age for rifle purchases. Business customers must also run background checks for all firearm sales and cease selling high-capacity magazines and bump stocks, Citigroup said.

The new gun rules will apply to clients such as credit card partners and loan customers, including small businesses. Citigroup said it currently has “few relationships” with firearms manufacturers, but it will ask gun makers to ensure that retail partners adhere to the bank’s restrictions.