If gun stores want to remain clients they must adhere to Citibanks tough restrictions.
Citibank used a March 22 “Commercial Firearms Policy” to implement a requirement that gun stores stop selling “high capacity” magazines if they want to continue doing business with the bank.
Citibank announced Thursday that it will start requiring clients to place some restrictions on gun sales, including banning the sale of firearms to anyone under the age of 21.
NEW: Citibank announces new U.S. commercial gun policy: "As a society, we all know that something needs to change. And as a company, we feel we must do our part." pic.twitter.com/qqrL0tEAPo
— ABC News Politics (@ABCPolitics) March 22, 2018
Citibank’s new policy:
Under this…policy, we will require new retail sector clients or partners to adhere to these best practices: (1) they don’t sell firearms to someone who hasn’t passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they don’t sell bump stocks or high-capacity magazines.
This policy will apply across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label. It doesn’t impact the ability of consumers to use their Citi cards at merchants of their choice.
Every gun purchased at retail must already be acquired via a background check according to federal law. Citibank’s emphasis on background checks would require licensed firearms dealers to go beyond federal law and refuse to sell a gun to anyone if an instant background check lasts three business days without incriminating evidence being discovered against the would-be buyer.
The emphasis on not selling long guns to 18-20 year olds, in states where such sales are legal, is also asking licensed firearms dealers to go above and beyond what federal law requires. It is legal, federally, to sell long guns to persons 18 years old and older.
Citibank contends that their firearms policy is “not centered on an ideological mission to rid the world of firearms.” Rather, they said the policy is an expression of “common-sense measures that would help prevent firearms from getting into the wrong hands.”
On March 9 Breitbart News reported that Visa refused to cave to a pressure campaign designed to force the company into cutting ties with certain semiautomatic rifle manufacturers. Visa said, “We do not believe Visa should be in the position of setting restrictions on the sale of lawful goods and services.”