Citigroup pushing anti-gun posture.

[Desk Jockey]

<<<<Beware of rant.>>>

Citigroup and other banks pulling business from gun sellers, manufacturers, etc. detailed in the article below. This stuff makes me grumpy. These wall street firms are trying to kneecap the gun industry by restricting their financial ability to do business. It is a scary and very effective tactic. Far more so than legislation IMO.

Also SUPER hypocritical IMO. These firms have no problem doing all other kinds of business that isn’t exactly pristine - big pharma, military, dirty sovereigns, tobacco - but are rejecting firms with obvious, public ties to the civilian, retail firearms industry. It’s window dressing. as a former employee of both JPMorgan and Citigroup, I can tell you first hand that Michael Corbat and Jamie Dimon both roll HEAVY with armed security. They are happy to take away your guns as long as they have plenty of their own Surrounding them and their families.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&ved=2ahUKEwi_jKrD2834AhWikIkEHVGaBS8QxfQBKAB6BAgPEAE&url=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcitigroup-tried-and-failed-to-rally-banks-to-pressure-gun-sellers-11656124086&usg=AOvVaw3NbRfwizlm8SOqp-Vbi_an

 

[scattergun]

Yep, capitalism can be a real kick in the nuts sometimes.

 

[260madman]

I believe there were financial institutions doing this a few years ago and got corrected on their wayward journey to wokeness.

 

[MattB]

The unfortunate things is it a dollars and cents game for management teams that are beholden to shareholders. It was reported that Wells Fargo lost a mortgage program with a large teacher’s union due to the bank’s relationship with the NRA.

 

[*zap*]

I think as much if not more is accomplished by big corps vs politicians...big corps did the boy scouts in for example.....that was way back when the libs wanted 'equal' treatment. Now they want special treatment and to run things.....ymmv

 

[displacedtexan]

Corporate entities have no morals or principles.

They are obligated to return maximum profits to the shareholders.

If a segment of the market is producing profit disproportionate to the risk, of course they don't want to be involved.

 

[Bubblehide]

I believe there were financial institutions doing this a few years ago and got corrected on their wayward journey to wokeness.

Yep the OP links to a 2018 incident.

 

[Rich M]

Yep, capitalism can be a real kick in the nuts sometimes.

Is it really capitalism?

Or is it trying to control people who think different than you do?

Woke-ism is a disease.

 

[Pony Soldier]

When my Dad died I tried three times to cancel is credit card. Each month they charged him for things he didn't want or ordered. I finally brought in the state auditors office and threaten to sue. I wouldn't trust citicorp to distribute government toilet paper. Crooks come in many forms.

 

[Desk Jockey]

Yep the OP links to a 2018 incident.

I cant find a link to the article that was in todays journal.

 

[Lawnboi]

Big Corp, politicians, super rich… same same

 

[def90]

Yeah, a few years back a number of card firms were involved in "policing" peoples purchases. At the time Wells Fargo was the only bank that came out and said it wasn't in their interest to alienate customers unless they were doing something illegal.

 

[BjornF16]

Yep, capitalism can be a real kick in the nuts sometimes.

Is it really capitalism?

Or is it trying to control people who think different than you do?

Woke-ism is a disease.

Crony capitalism, which isn’t really capitalism.

 

[Bubblehide]

My guess is now that the 2nd is actually a Constitutional RIGHT, some of these companies refusing to list of fund for guns, are going to be sued and lose. There are many, but in particular, I am thinking of PayPal. I see some policy changes in the near future, one way or another.

 

[MattB]

Just recently one U.S. bank (NY-based Amalgamated Bank) petitioned the merchant card industry to add a new merchant code to isolate firearm/ammunition sellers, and the merchant industry denied the request.

This bank wants to track suspect credit card sales of guns and ammo. Why can't it?

"We have an obligation to address crime that is being facilitated through our system," said Amalgamated Bank CEO Priscilla Sims Brown.

www.cbsnews.com

 

[BjornF16]

My guess is now that the 2nd is actually a Constitutional RIGHT, some of these companies refusing to list of fund for guns, are going to be sued and lose. There are many, but in particular, I am thinking of PayPal. I see some policy changes in the near future, one way or another.

The only problem I see with your scenario is that the Bill of Rights prevents governments from infringing upon those rights. Private companies don’t have that restriction (barring some other law that would regulate the actions of the private company).

That is one reason why you see some states leverage companies by refusing to do business with them if they implement policies that restrict rights.

JPMorgan Chase says Texas law punishing banks is hurting its business

The largest U.S. bank says it’s being shut out of underwriting municipal-bond deals in Texas after the state enacted a law banning government work with banks...

www.dallasnews.com

 

[displacedtexan]

My guess is now that the 2nd is actually a Constitutional RIGHT, some of these companies refusing to list of fund for guns, are going to be sued and lose. There are many, but in particular, I am thinking of PayPal. I see some policy changes in the near future, one way or another.

PayPal isn't a government agency.

 

[EastHumboldt]

You have a constitutional right to purchase and own Guns. And ammo. Companies have a constitutional right to do business with you or not to do business with you.

 

[Bubblehide]

The only problem I see with your scenario is that the Bill of Rights prevents governments from infringing upon those rights. Private companies don’t have that restriction (barring some other law that would regulate the actions of the private company).

That is one reason why you see some states leverage companies by refusing to do business with them if they

You have a constitutional right to purchase and own Guns. And ammo. Companies have a constitutional right to do business with you or not to do business with you.

Unless they have accepted federal funds.

 

[Bcoonce117]

Research the great reset and ESG. Some real commie stuff that they are trying to make happen