+- 6.5 Grendel Forum (https://65grendel.com)
+-- Forum: 6.5 GRENDEL FORUM NEWS (https://65grendel.com/forumdisplay.php?fid=5)
+--- Forum: General Discussion (https://65grendel.com/forumdisplay.php?fid=26)
+--- Thread: Citigroup imposes gun purchase restrictions (/showthread.php?tid=15709)
Citigroup imposes gun purchase restrictions - BjornF16 - 03-23-2018
Announcing Our U.S. Commercial Firearms Policy
By Ed Skyler, Executive Vice President, Global Public Affairs, CitiMARCH 22, 2018 11:30 AM
For too many years, in too many places, our country has seen acts of gun violence that have resulted in heartbreaking losses. We are all too familiar with them and there is no need to recount them here.
Over the same amount of time, we have waited for our grief to turn into action and see our nation adopt common-sense measures that would help prevent firearms from getting into the wrong hands. That action has sadly never come and as the weeks pass after the most recent mass shooting, it appears we are stuck in the same cycle of tragedy and inaction.
As a society, we all know that something needs to change. And as a company, we feel we must do our part.
Today, our CEO announced Citi is instituting a new U.S. Commercial Firearms Policy. It is not centered on an ideological mission to rid the world of firearms. That is not what we seek. There are millions of Americans who use firearms for recreational and other legitimate purposes, and we respect their Constitutional right to do so.
But we want to do our part as a company to prevent firearms from getting into the wrong hands. So our new policy centers around current firearms sales best practices that will guide those we do business with as a firm.
Under this new policy, we will require new retail sector clients or partners to adhere to these best practices: (1) they dont sell firearms to someone who hasnt passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they dont 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.
We know our clients also care about these issues and we have begun to engage with them in the hope that they will adopt these best practices over the coming months. If they opt not to, we will respect their decision and work with them to transition their business away from Citi.
We have few relationships with companies that manufacture firearms. For those that do, we will be initiating due diligence conversations on the subject to better understand what products they make, what markets and retailers they sell to and what sales practices those retailers follow to ensure adherence to the best practices outlined above. This same due diligence screening will apply to potential clients going forward.
These common-sense sales practices already have widespread public support according to recent polling and they are easy to implement. Some, like Walmart, have gone even further.
We recognize that we dont have all the answers and that existing technology in our industry doesnt allow for a more targeted approach at points of sale. For that reason, we would like to convene those in the financial services industry and other stakeholders to tackle these challenges together and see what we can do. This approach has worked well in areas such as sustainability, where the Equator Principles ushered in a new era of environmentally and socially responsible financing practices. We hope to leverage collective action to encourage responsible practices by all who sell firearms. As best practices evolve, we will update our policies accordingly.
We know that the actions we are taking today will invite passion on both sides. We dont have the perfect solution but we have come to the conclusion that we must do our part to keep guns out of the hands of those who wish to do harm. And we hope our actions help achieve that vital goal.
https://blog.citigroup.com/2018/03/announcing-our-us-commercial-firearms-policy
Citigroup imposes gun purchase restrictions - Double Naught Spy - 03-23-2018
This is just a new set of what they have been doing for at least the last couple decades. :-(
Citigroup imposes gun purchase restrictions - rabiddawg - 03-23-2018
Yeah boy. Just what I need. A bank telling me how to solve their perceived gun problem. F em. Glad I don’t do business with citi
Citigroup imposes gun purchase restrictions - m796rider - 03-23-2018
They are sales restrictions, which I think will be unenforceable. How many in-store inspectors will Citi be hiring? Yep, zero.
You will not see any restrictions on using your credit card (yet).
These types of policies are ridiculous because the mechanics of making them real are next to impossible.
Citigroup imposes gun purchase restrictions - 37L1 - 03-23-2018
Well, by their logic, cancelling credit cards should help prevent credit card fraud.
Citigroup imposes gun purchase restrictions - centerfire - 03-23-2018
How much money did Citi Group give to the HRC campaign? I'm kind of curious exactly how "Amoral" they are.
Citigroup imposes gun purchase restrictions - rabiddawg - 03-23-2018
m796rider Wrote:They are sales restrictions, which I think will be unenforceable. How many in-store inspectors will Citi be hiring? Yep, zero.
You will not see any restrictions on using your credit card (yet).
These types of policies are ridiculous because the mechanics of making them real are next to impossible.
Yeah, I figured they just trying to grab a headline
Citigroup imposes gun purchase restrictions - BjornF16 - 03-24-2018
Think I'll use my Citi card to donate to NRA, GOA, SAF tomorrow, March 24th... :p
Citigroup imposes gun purchase restrictions - biodsl - 03-24-2018
BjornF16 Wrote:Think I'll use my Citi card to donate to NRA, GOA, SAF tomorrow, March 24th... :p
I like the way you think, Bjorn!
Making my donations to NRA-ILA and the Oregon Firearms Federation to fight that nasty Oregon ballot initiative.
Citigroup imposes gun purchase restrictions - drykilned - 03-24-2018
Hope they are ready for mass defections to other banking firms! I get mail from citi several times a week wanting me to get one of their charge cards. Never happen! Now they want to tell us how we can run our businesses?? Is that tag at the bottom of the article about nra membership etc from the letter writer or the forum writer???
Citigroup imposes gun purchase restrictions - just_john - 03-24-2018
If memory serves correctly, didn't McMillan start a credit organization FOR the benefit of firearms activities?