Citi announces a significant policy update aimed at preventing the debanking of clients due to their political affiliations or involvement in the firearms industry. This change comes amidst rising concerns over financial institutions discriminating against conservatives and businesses linked to disfavored sectors, a topic that has captured the attention of lawmakers and the public alike.
The bank will no longer enforce its previous firearms policy, allowing clients more freedom while ensuring fair access to services regardless of political views. Edward Skyler, Citi’s head of enterprise services, emphasizes the importance of not discriminating based on political affiliation, reinforcing that these updates are designed to adapt to current regulatory frameworks and public sentiment.
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