Citibank recently announced the reversal of a 2018 policy that restricted Second Amendment rights for its clients, citing a commitment to fair access to banking services. The decision follows concerns about its previous policy, which required certain restrictions on firearms sales by commercial clients, and anticipates compliance with evolving regulatory conditions under a new political climate.
The bank’s decision comes amid increasing scrutiny of financial institutions’ policies on political affiliations and their impact on access to services. Executive director of Consumers’ Research, Will Hild, criticized the original policy while welcoming the recent change, asserting that no organization should discriminate based on political beliefs. This policy shift mirrors a wider trend among financial institutions, with competitors like JP Morgan Chase also adjusting their codes to prevent debanking based on political or religious reasons.
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