Wow. It appears at least some in the banking industry are deciding to regulate gun control measures across the nation as outlined via a report from ZERO HEDGE:
Citigroup Enforces Gun Control Restrictions On Customers
…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 previously, there 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.
Following the 2008 financial crisis, Citigroup took the single highest amount of government-funded bailout funds – nearly a half-trillion dollars. Likely a great many of those taxpayers who helped fund that bailout (against their will) were/are gun owners. Regardless of one’s views regarding gun control/gun rights, this sets a disturbing precedent as massive international financial institutions with the power to directly harm private (small) business and consumers, are moving to police/punish the actions of U.S. citizens.