Citigroup has announced the reversal of its policy that limited banking services to retail clients involved in the firearms industry, a practice that began in 2018. This decision, effective June 3, comes after increasing pressure from conservative figures including former President Donald Trump, who accused banks of “de-banking” clients based on political affiliations.
Previously, Citigroup’s restrictions included prohibiting sales of firearms to individuals under 21 and banning items like bump stocks. The bank stated that the update reflects its commitment to “fair access” for all clients, regardless of their political views. This move marks a significant shift in the ongoing debate surrounding banking practices and the firearms industry in America.
Read full story at time.com
