NRA by Zita Ballinger Fletcher 7/28/2019
Some banks have embarked on a business path to enact policies to restrict gun sales and exert pressure on the firearms industry. Two of the banks grabbing headlines for anti-gun policies are Citibank and Bank of America.
In present-day American culture, exposing inconsistent, deviant, fraudulent, immoral, shocking and even illegal actions of politicians, celebrities, media and businesses often isn’t enough.
We’re seeing this now in the financial industry where access to an open marketplace is being denied for no other reason than connections to or interest in firearms. Banking is an industry that has flourished and grown thanks to protections and bailouts from us. When discriminatory behavior has blocked free access to certain groups, Congress, state legislatures and the courts have acted forcefully in the past to clear the barriers.
But not now, despite reporting by this magazine and others in the media, discrimination against lawful firearm owners, dealers and manufacturers is being allowed to stand, and, in fact, appears to be picking up steam. That’s certainly the case as two of the nation’s biggest banks—Citibank and Bank of America—have embarked on a business path to enact policies seeking to restrict gun sales and exert pressure on the firearm industry.
Citibank, owned by Citigroup in New York, has issued a new policy called the “U.S. Commercial Firearms Policy.†Citi refuses to do business with any gun vendor that sells guns to customers under age 21—even though federal law and the majority of states allow long-gun sales to individuals who are at least 18 years of age and who are not otherwise prohibited from owning a gun. Citibank’s “rule†applies to gun manufacturers and retailers, and the parent company also stated it will cease doing business with firms that sell standard-capacity ammunition magazines that exceed their arbitrary capacity limit.
“This policy will apply across the firm, including to small business, commercial and institutional clients, as well as to credit-card partners, whether co-brand or private label,†Executive Vice President Ed Skyler said, in a statement on the company website. The site also noted that, “…our new policy centers around current firearms sales best practices that will guide those we do business with as a firm.â€
Beyond the obvious question of how a bank has any expertise in “firearms sales best practices,†even more troubling aspects to the policy were soon expressed in posts by customers who vowed to end their financial support. Under Skyler’s blog—titled “Announcing Our U.S. Commercial Firearms Policyâ€â€”customers wrote:
“A craven and shameful attempt to curry favor from Citi’s political masters. Every American who values liberty and our Constitution should refrain from doing business with this company. I certainly will.â€
More:
https://www.americas1stfreedom.org/articles/2019/7/28/locked-out/
