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Citigroup Caves: Gun Policy Reversal Sparks Backlash and Political Firestorm

United States: In a quiet but impactful pivot, Citigroup has dismantled a policy it upheld for seven years—one that once served as a symbolic firewall between its banking operations and the firearms trade.

Initially introduced in March 2018, this internal directive emerged in the wake of a national tragedy—the Marjory Stoneman Douglas High School shooting in Parkland, Florida, where a lone teenage assailant left 17 dead and many more scarred. Citigroup’s leadership at the time moved swiftly, asserting that their financial support would henceforth hinge upon three standards: no weapon sales without a background check, no sales to individuals below 21 years, and no dealing in bump stocks or oversized magazines.

This framework, however, was always tailored solely for business clientele—from modest enterprises to corporate juggernauts. Personal banking users faced no such constraints. Citigroup, whose financial tentacles span over 19,000 companies globally, positioned the policy as a moral stand, a gesture of solidarity with public safety concerns.

"As a society, we all acknowledge something must evolve," said Ed Skyler, the Executive Vice President of Enterprise Services and Public Affairs, back in 2018. "And as a company, we felt an obligation to lead from within."

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