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Citigroup Announces Firearm Policy... For Clients!

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Well here we go. If you're involved with firearms in retail and are a Citigroup client, they have a new policy for you.

So now we have the politicization of our corporations mandating what you will be allowed to do as a private business man.

I see new opportunities for banks in the country. Probably small ones.

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I heard this on the radio in the car this afternoon and was shocked.  So they won't deal with you if you sell high capacity magazines or sell to anyone under 21.  So now in states where it is legal to sell high cap mags and sell long guns to adults that are 18 it is too F'ing bad - this is getting crazy.   God help you if you won't bake a cake for someone, but this is ok?  This country is totally messed up.

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Just now, capt14k said:

I smell another lawsuit

Sent from my XT1585 using Tapatalk
 

Pretty sure Citi has the lawyers review any policy change before implementing. Or at least has them on speed dial for defense. Unlike school systems

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So get a credit card from another bank.  Pretty soon firearms sales will be like drugs sales, cash only, if they have their way.  Citigroup, see ya.  Guess we will see who else folds.  Wonder how long before the board shows that CEO the door.

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28 minutes ago, capt14k said:

I smell another lawsuit

Sent from my XT1585 using Tapatalk
 

This crap is gonna grow and grow until it’s forced to the Supreme Court. And I agree “you’d be surprised” dumber has happened. They can’t deny a purchase that is a legal one. They can’t wake up one morning and say no card sales to anyone under 50 because there’s too many DWIs. It’s not there Call or legal right. This crap will come to a legal head. 

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Citigroup is not dumb guys. They probably took a look at who their customers actually are, and saw that they have very few (if any) that would be affected by this "change". They will lose nothing, and get a bunch of free publicity from our "outrage". They will then use that free publicity to get hippies and snowflakes to open accounts with their "socially responsible" bank.

Headlines, headlines, headlines! That's all they are after. It's all a gimmick. I would bet anything that they have no major gun clients, and small mom and pop LGS couldn't afford their minimum balances and crazy service fees anyway.

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1 hour ago, Bklynracer said:

Go back to writing checks, they can't stop you from buying anything, it's your money. They lose money by not giving credit, and having you owe them, and charging the vender %. Some people might even get out of debt.

you'll also find that you'll have more money in your pocket.

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We're screwed if this doesn't stay contained...

If enough major banks join in on this. Gun shops cant get a loan to open a business, can't take credit card payments or checks from customers or vendors, and have to engage in cash/money order only payments. 

"high capacity magazines" is a catch-all that snags 90+% of all gun shops. Anyone even selling a handgun with an 11 round magazine now can't use a bank....

This results in massive risk having to deal with huge amounts of cash, both in storing it, transporting it, and keeping track of it for taxes. It also cripples online sales, turning easy and modern transactions back to the 90's where you have to mail off a money order and not get your product 2 weeks later. That is, if the money order isn't lost.

 

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6 hours ago, mossburger said:

We're screwed if this doesn't stay contained...

If enough major banks join in on this. Gun shops cant get a loan to open a business, can't take credit card payments or checks from customers or vendors, and have to engage in cash/money order only payments. 

"high capacity magazines" is a catch-all that snags 90+% of all gun shops. Anyone even selling a handgun with an 11 round magazine now can't use a bank....

This results in massive risk having to deal with huge amounts of cash, both in storing it, transporting it, and keeping track of it for taxes. It also cripples online sales, turning easy and modern transactions back to the 90's where you have to mail off a money order and not get your product 2 weeks later. That is, if the money order isn't lost.

 

Somehow the marijuana business in states where its legal manages to operate without the support of big national banks.  If it comes to it I bet other banks will step up for the gun industry.

Hell, what if the NRA started a credit union for the gun industry?

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This change doesn't affect us and/or how we would use a citibank card.  We can still take a citibank card and go buy all the guns you want.  This is aimed at any retailer that uses citibank merchant services. Still a bunch of crap though

"Under this new 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."

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3 hours ago, HBecwithFn7 said:

BTW, check your other credit cards besides Visa, MC, etc.   For example, my Shell Oil card is also Citi based.  That is, if you're looking to dump them..  :ninja:

Thanks for that prompt. I've got one and didn't think of that.

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I looked at citi before because IIRC they had a decent reward program but never followed thru on the app,. I have Visa from my bank and Amex so didn't need another CC but anyone looking for a new card check https://www.bankrate.com/ to see what works for you.

As mentioned above use checks or cash. Some Mom & Pop stores will give you a discount so they don’t have to pay the CC fee and are happy to pass the saving on to the customer. The big box stores don’t give a shit because the price is baked in regardless if you pay cash or credit.

 

 

 

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13 hours ago, Pizza Bob said:

I wish that I had some accounts with Citi, or their credit card.....so I could close them.

I did just that last October, but for other reasons. Closed ALL my bank accounts and credit cards with citibank. But citibank is primary in the tri-state area, so they may be able to get away with this BS. I don't think other large banks will be able to.

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1 hour ago, MartyZ said:

I did just that last October, but for other reasons. Closed ALL my bank accounts and credit cards with citibank. But citibank is primary in the tri-state area, so they may be able to get away with this BS. I don't think other large banks will be able to.

Their costco reach is huge. Costco does take any visa card now. Cancelled 

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I find Citibank’s action deeply troubling.  I plan to take stock of all our Citi affiliated credit cards  and likely cancel most if not all of them. Between the wife and I there are at least four that come to mind, including Costco.

 

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Here's a list of Citi private branded cards:

List Of Citi Store Cards

Plus:

Sunoco

 

 

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