Citigroup Enforces Gun Control Restrictions On Customers

Seemingly following Andrew Ross Sorkin's suggestions, and echoing the virtue-signaling from Dick's Sporting Goods et al., megabank Citigroup is setting restrictions on the sale of firearms by its business customers.

As a reminder, Andrew Ross Sorkin wrote in the NY Times that banks could control guns, if Washington won't.

Liberty Blitzkrieg's Mike Krieger exclaimed that even in today’s world replete with plutocrat public relations masquerading as journalism, it’s rare to encounter an article simultaneously pandering, authoritarian, childish and dumb. Nevertheless, I found one, and it was unsurprisingly published in The New York Times.

The title of the piece more or less says it all, How Banks Could Control Gun Sales if Washington Won’t, but let’s go ahead and examine some of the author’s suggestions in greater detail. For instance:

Here’s an idea.

What if the finance industry — credit card companies like Visa, Mastercard and American Express; credit card processors like First Data; and banks like JPMorgan Chase and Wells Fargo — were to effectively set new rules for the sales of guns in America?

Collectively, they have more leverage over the gun industry than any lawmaker. And it wouldn’t be hard for them to take a stand.

PayPal, Square, Stripe and Apple Pay announced years ago that they would not allow their services to be used for the sale of firearms.

If Visa and Mastercard are unwilling to act on this issue, the credit card processors and banks that issue credit cards could try. Jamie Dimon, chief executive of JPMorgan Chase, which issues credit cards and owns a payment processor, has talked about how he and his bank have “a moral obligation but also a deeply vested interest” in helping “solve pressing societal challenges.” This is your chance, Mr. Dimon.

That was followed by Dick's Sporting Goods, who said they would no longer sell high-capacity magazines and that they would not sell any gun to anyone under 21 years of age, regardless of local laws.

“When we saw what happened in Parkland, we were so disturbed and upset,” CEO Edward Stack told NYT in an interview. “We love these kids and their rallying cry, ‘enough is enough.’ It got to us.”

He added, “We’re going to take a stand and step up and tell people our view and, hopefully, bring people along into the conversation.”

And now, according to The NY Times,  Citigroup is stepping in the 2nd Amendment miasma.

The new policy, announced Thursday, prohibits the sale of firearms to customers who have not passed a background check or who are younger than 21. It also bars the sale of bump stocks and high-capacity magazines. It would apply to clients who offer credit cards backed by Citigroup or borrow money, use banking services or raise capital through the company.

The rules, which the company described as “common-sense measures,” echo similar restrictions established by some major retailers, like Walmart. But they also represent the boldest such move to emerge from the banking sector.

Citigroup’s gun policy has “been a while coming,” its chief executive, Michael L. Corbat, told The New York Times Thursday.

Mr. Corbat, who called himself “an avid outdoorsman and responsible gun owner,” acknowledged that “some will find our policy too strict while others will find it too lenient.”

“We don’t pretend that these answers are perfect, but as we looked at the things we thought we could influence, we felt that, working with our clients, we could make a difference,” he said.

“Banks serve a societal purpose - we believe our investors want us to do this and be responsible corporate citizens.”

If business customers decline Citigroup’s restrictions, the bank said it would work with them to “transition their business away.”

As Krieger so eloquently concluded previouslythere simply isn’t overwhelming national support for more gun control. As such, if the mega banks that wrecked the economy a decade ago and consumed massive bailouts to survive, decided to use their power to shadow legislate it will not go over well. I can promise you that much.

Comments

two hoots IH8OBAMA Thu, 03/22/2018 - 11:52 Permalink

“Banks serve a societal purpose - we believe our investors want us to do this and be responsible corporate citizens.”

“In 2015, the bank was ordered to pay $700 million to customers and fined $70 million over illegal practices related to its marketing of card add-on products.”

And

“Citigroup will refund customers $335 million after discovering it charged too much credit-card interest”  Feb 18

And

“Citigroup agreed to pay $11.5 million in fines and compensatory damages to resolve claims that it gave mom-and-pop investors wrong or outdated information about its analysts’ recommendations”  Dec 17

could go on and on

In reply to by IH8OBAMA

Dilluminati Pool Shark Thu, 03/22/2018 - 12:52 Permalink

The globalists hate freedom.  This should sum up things pretty clearly.  Pretty soon they will require you to take the sign of the beast and cutoff your credit if you don't worship as they see fit.  This is what tyranny and being a debt slave is all about.  Of course I don't do citigroup.  

https://www.youtube.com/watch?v=jAfUI_hETy0

I wonder if the cunts who run citi have private jets, personal security, armed guards at their offices (not the banks) the sheeple are at the banks.  Remember these are the people who will tell you that you shouldn't have a gun, but they already have them.

What do these people know that you don't?

In reply to by Pool Shark

OldTrooper rosiescenario Thu, 03/22/2018 - 13:45 Permalink

This isn't exactly 'news' to me.  Two years ago when I bought my house my residence at the time was flagged as a 'firearm related address'.  Ordering reloading supplies online is apparently enough to do that.  I had to write a letter to the mortgage company saying I was not in the gun business.

Gun dealers, manufacturers, etc. have been having problems for years with banking.  This is just virtue signaling from Citi.

I'll use my Citi Card for my next order, just to test the waters.

In reply to by rosiescenario

SantaClaws RedBaron616 Thu, 03/22/2018 - 13:49 Permalink

Whether it's NRA or GOA, they should also start a bank.  Why use Citibank/Citicorp for anything?

For what it's worth, Citicorp's Walt Wriston was the evil genius who introduced sky-high credit card interest rates by moving Citicorp's credit card operations to South Dakota in exchange for the South Dakota legislature eliminating the usury limits.  The rest, as they say, has been history.

In reply to by RedBaron616

any_mouse SantaClaws Thu, 03/22/2018 - 16:03 Permalink

Regional banks held by Delaware based bank holding companies that held a South Dakota based card issuer.

Sweet corporate setup in Corporate America. States only have Rights when Corporations deem it profitable.

And that was all before the repeal of Glass-Steagall.

Repealed, and the nationwide bank consolidation frenzy went into hyperdrive.

TBTF and TBTJ, were the natural outcome.

In reply to by SantaClaws

Dilluminati pods Thu, 03/22/2018 - 13:09 Permalink

I was watching a few weeks back on the AR's and what happened was smart people went out and bought, simply made the decision to buy.  

I'm still seeing a few intro level AR's left.

https://gun.deals/search/apachesolr_search/736676085002?upc_only=1

But even the Ruger AR-556 are getting scarce

as well as the 

https://gun.deals/search/apachesolr_search/022188868104?upc_only=1

Smith and Wesson M&P15 

 

The globalists are on the march, they want your guns.. you should have bought while the getting was good

https://gun.deals/search/apachesolr_search/098289023292?upc_only=1

Saints not to be found

https://gun.deals/search/apachesolr_search/706397913649?upc_only=1

Colt not to be found

 

Need to get to a gunshow and not be left out

http://www.gunshows-usa.com

In reply to by pods

Dilluminati RedBaron616 Thu, 03/22/2018 - 13:26 Permalink

laughing.. you do whatever you want dude.. fine with me, I see some people with guns who are frankly dangerous and dumb, I'm all for people practicing gun safety at the gun shows.  not sure what state you live in, but not all states handle gunshows the same.. so f you're from a cunt state, in a state of "cunt" well that is too damn bad.. I do the shows just don't be a cunt

http://capitalismmagazine.com/2002/08/franciscos-money-speech/

“Francisco’s Money Speech” (appropriate)

Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

...

So long as men live together on earth and need means to deal with one another–their only substitute, if they abandon money, is the muzzle of a gun.

....

Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it

....

Blood, whips and guns–or dollars. Take your choice–there is no other–and your time is running out.”

In reply to by RedBaron616

DosZap RedBaron616 Thu, 03/22/2018 - 15:15 Permalink

They do that for PUBLIC saftey.

I used to go to EVERY major show in D/FW(when I lived there),I mean shows that would take you 2 days to get through.

You would not believe the IDIOTS that came to the shows with loaded weapons(for trade ins, or selling outright) and they had to be checked at the door for THIS reason,when you have morons with not enough gun sense to hand a weapon to someone barrel first, and the inspectors find them fulled loaded with a round IN THE CHAMBER!,that's why Gun Shows STARTED to police themselves.

I have been to TWO where I have hear rounds going of, because basic gun safety rules were not followed.(Bottom line) some adults are not smart enough to OWN a weapon.

In reply to by RedBaron616

Dilluminati DosZap Thu, 03/22/2018 - 17:09 Permalink

Good point.. That was what I was saying, especially antique guns etc.. people unfamiliar with a gun, and then couldn't stop somebody from cambering a gun in show

 have been to TWO where I have hear rounds going of, because basic gun safety rules were not followed.(Bottom line) some adults are not smart enough to OWN a weapon.

^ agree on this as well, doesn't mean they shouldn't own a weapon, just means that good safety rules protect you from their stupidity and of course real accidents that might occur if a chamber is loaded, dropped weapon, etc.. malfunction Remington 700 as an example has no business with bullets in it if I'm within a mile or so

In reply to by DosZap

Ghost of PartysOver Dindu Nuffins Thu, 03/22/2018 - 12:06 Permalink

For all the gun control knuckleheads, look around and see what the Federal Gov't is up to.  The surveillance, the social media interactions, the banking regs, need I say FBI and Justice?  Now for the Libtards, would you like your gun if/when a Theocratic government starts incarcerating you for being LGTB, for smoking too much pot, for abortion.....?  The gun is your only defense from an over zealous Federal Government.  Period.

In reply to by Dindu Nuffins

Pool Shark malcolmevans Thu, 03/22/2018 - 12:36 Permalink

This is the biggest reason all true Conservatives should hate George Bush: he gave us the Patriot Act.

NEVER give the government more power than is minimally necessary to carry out its basic duties, or those powers will eventually be turned against YOU.

People forget that Reagan’s RICO Statutes were later used by the Clinton administration to criminally go after Operation Rescue members and Roberta Achtenberg to criminally charge homeowners whose only crime was voicing opposition to her forcing group homes into their residential neighborhoods in violation of their CC&R’s.

 

In reply to by malcolmevans