US banking giant Citigroup has dropped a 2018 policy restricting its provision of services to retailers selling firearms, following recent regulatory developments and pushback from Republican-led states. The move comes as the industry faces scrutiny over alleged discrimination against certain industries or political groups.
In a statement, Citigroup’s Head of Enterprise Services and Public Affairs Edward Skyler cited concerns about “fair access” to banking services, stating that the company is monitoring regulatory changes and federal legislation affecting this area. The bank will update its employee code of conduct and customer-facing policy to clarify it does not discriminate based on political affiliation.
The decision follows President Trump’s criticism of Bank of America and JPMorgan Chase CEOs over allegedly denying services to conservatives in January. Industry experts have maintained that banks do not deny services on political grounds, but the patchwork of laws aimed at ensuring fair lending has led to industry frustration.
Source: https://nypost.com/2025/06/03/business/citi-drops-gun-policy-after-trump-slammed-banks-for-discriminating-against-conservatives