The CEO of Citigroup, Mike Corbat, sent an email to employees detailing new policies regarding firearm sales by its business customers. This move makes Citi the first Wall Street bank to take up a defensive position against guns.
The new policy, according to ABC News, will prohibit firearm sales to customers who have not passed a proper background check, or who are under the age of 21-years-old. The new restrictions also ban the sale of bump stocks and high-capacity magazines.
NEW: Citibank announces new U.S. commercial gun policy: “As a society, we all know that something needs to change. And as a company, we feel we must do our part.” pic.twitter.com/qqrL0tEAPo
— ABC News Politics (@ABCPolitics) March 22, 2018
“We have waited for our grief to turn into action and see our nation adopt common-sense measure 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,” Citi’s statement reads.