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Citi group sides with gun control folks


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Citi group, the fourth-largest bank in the United States, has announced it will no longer do business with clients that do not meet a host of progressive gun control requirements, none of which are mandated by federal law.

In a blog post, Citi group announced:

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.

Bans on bump stocks and high-capacity magazines have been a key demand of progressive gun control advocates. But whereas the usual method of activism has been to lobby representatives for change via the democratic process, Citi group is now imposing the change unilaterally — without asking their clients or customers.

Citi promised to “respect the decision” of clients that chose not to follow their guidelines, and “work with them to transition their business away from Citi.”

 

Since Donald Trump took office, corporations have been taking a growing role in public life, as progressive globalists try to use corporate power to advance their agenda. Leftist publications like the New York Times and Vox have gone so far to declare corporations the new “moral voice” of America — a stark contrast to the usual anti-capitalist attitudes of the left.

But some companies are facing a backlash for their attempts to impose progressive values on their customers and clients. Lawmakers in George recently voted to scrap a planned $50 million dollar jet fuel tax exemption for Delta Airlines after the airline company cut ties with the NRA in the wake of the Parkland shooting. Virtue-signalling can be expensive…

 

http://www.breitbart.com/big-government/2018/03/22/citigroup-announces-gun-control-requirements-for-clients-and-small-businesses/

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20 minutes ago, QuackerSmacker said:

This stuff is getting out of control.   Banks dictating customers' gun policies, restaurants not serving uniformed armed cops ---- what's next? 

This is not exactly new in general terms but it is seemingly becoming more acute lately.  

Parkland was the tipping point and they’re just getting started.

Edited by Garufa
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These large corporations sometimes forget who pays their bills. Not all of use are sheep that gobble down whatever new advertising campaign they shove at us. 

There are lots of other people that provide the same services. Find one that remembers your business is their customer not their puppet. 

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49 minutes ago, MacGyver said:

AR sales will go down 99% the moment VISA decides not to process those transactions anymore.  

Not just AR sales, but more or less the firearms online retail sector.  Can you see Palmetto State Armory, or Primary Arms running their sites by ACH transactions?

The only winners would be local gun shops who can do great local marketing campaigns to a population of shooters needing supplies.

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Some bank or group will step up if that happens. Too much money is involved to miss out. That's part of this knee jerk reaction by these companies. Free publicity. They will make public statements and then be business as usual for most behind the scenes not long after.

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3 hours ago, MacGyver said:

AR sales will go down 99% the moment VISA decides not to process those transactions anymore.  

It, for me, brings to mind the fact that there are quite a few people who would love to transition to a cash-less society. It seems to me that these leftist banks and corporations would then have almost complete control over what everyone would be allowed to buy. 

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4 hours ago, MacGyver said:

AR sales will go down 99% the moment VISA decides not to process those transactions anymore.  

Bought my last two lowers on a Mastercard. If it had been refused because they were trying to CONTROL me, I would have paid cash for four. They really are picking on a HUGE group of people. Maybe they will learn Hillary's lesson. Chasing away money is stupid.

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9 hours ago, TripleGGG said:

Some bank or group will step up if that happens. Too much money is involved to miss out. That's part of this knee jerk reaction by these companies. Free publicity. They will make public statements and then be business as usual for most behind the scenes not long after.

This

Quote

It doesn’t impact the ability of consumers to use their Citi cards at merchants of their choice.

So its really just smoke and mirrors.

I felt sorry for some of the companies that get caught up in the gun debate. But when they bring it on themselves; they get what they deserve. Unfortunately unless some major businesses step up (unlikely) gun owners won’t stick together enough to have any financial impact.

I can’t think of any circumstances where a business would sell a firearm without a background check, Bumpstocks are a non-issue, so this is about 21 year old age requirement and high capacity magazines.

So if their cards can still be used for these items; how is this going to impact anything? Citi Group is the world's largest credit card issuer. Is Citi Bank going to cut ties with credit card companies that deal with gun companies/vendors like Visa and MasterCard? Visa has the NRA and Academy Sports credit cards, Bass Pro is MasterCard. (Just a couple of quick checks; I'm sure there are plenty more)

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Not quite smoke and mirrors to me.  I don't have a citi...anything, that I know of, but this is a shot across the bow as far as I'm concerned. They have just signaled their intent to control an industry.   Their actions are not based on law, yet, so it's an arbitrary decision to try and enforce a standard they set.  What's next?  

 

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I would like to see how many businesses actually use them for processing their credit card sales. I bet it is not as large as number as this implies. Most big banks fees are higher on processing fees. So I still say this is all for free publicity. When the smoke blows over they will not enforce anything they've said. They've learned this from the politicians.

Funny thing is I have a Citi Costco card. It pays crazy kickbacks. I charge everything thru it and pay it off every month. They don't make interest off of me and I'm averaging about $150 a month in kickbacks. I just used that money this week to order 2000 rounds of 45 and 9mm.

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We're a lot more worried - because we're hearing a lot more chatter upstream from the Citi's of the world - with Visa, MasterCard and Amex all talking about the logistics of refusing the transactions associated with ARs. They've already generally decided the optics of it are okay.

Basically, they're looking at it and saying, "if Congress is unwilling to act, we are going to use our clout to do something about it." 

There would of course be a ton of lawsuits - but it takes a bunch of money to litigate - especially against groups that have as much money as the card networks have.

The pragmatic reality of the matter is that places like Palmetto State Armory and Primary Arms - and even higher end boutique shops like Daniel Defense, Larue, Noveske, etc. are dead in the water in about 45 days if sales go away.

Yes, there will be groups that try to bring alternative payments to the front - but if the cannabis industry offers any lesson - that's a hard problem for a variety of reasons - and you've got to have banks willing to deposit your money at the end of the day.

Were I ranking threats to the second amendment, right now I rank Congressional Republicans number one, active state legislatures number two, and this would be a close third.

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17 minutes ago, MacGyver said:

We're a lot more worried - because we're hearing a lot more chatter upstream from the Citi's of the world - with Visa, MasterCard and Amex all talking about the logistics of refusing the transactions associated with ARs. They've already generally decided the optics of it are okay.

Basically, they're looking at it and saying, "if Congress is unwilling to act, we are going to use our clout to do something about it." 

There would of course be a ton of lawsuits - but it takes a bunch of money to litigate - especially against groups that have as much money as the card networks have.

The pragmatic reality of the matter is that places like Palmetto State Armory and Primary Arms - and even higher end boutique shops like Daniel Defense, Larue, Noveske, etc. are dead in the water in about 45 days if sales go away.

Yes, there will be groups that try to bring alternative payments to the front - but if the cannabis industry offers any lesson - that's a hard problem for a variety of reasons - and you've got to have banks willing to deposit your money at the end of the day.

Were I ranking threats to the second amendment, right now I rank Congressional Republicans number one, active state legislatures number two, and this would be a close third.

Do you really feel these banks would be willing to give up the dollar figures they make each day off of sales of firearms, ammo, firearm parts or anything shooting related that take place on any given day?

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26 minutes ago, bersaguy said:

Do you really feel these banks would be willing to give up the dollar figures they make each day off of sales of firearms, ammo, firearm parts or anything shooting related that take place on any given day?

The sad part of it is, they don’t have to give it up.  

When you look at the average American’s spending habits - if they have money they’re going to spend it.  

So, the banks look at it as potentially delayed income that they’re still going to get sooner or later.  Sure, a few people are going to save it or bury it in their backyard or whatever.  

Most people will just buy something else. 

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6 minutes ago, MacGyver said:

The sad part of it is, they don’t have to give it up.  

When you look at the average American’s spending habits - if they have money they’re going to spend it.  

So, the banks look at it as potentially delayed income that they’re still going to get sooner or later.  Sure, a few people are going to save it or bury it in their backyard or whatever.  

Most people will just buy something else. 

You have a point but if I am wanting to buy a gun that will require a credit card I am the type that will wait till a used one comes up for sale and do a FTF or buy one in state that can be shipped and pay cash. I will just put the cash back until I have enough to buy said gun. I do realize that what the seller does with the money I have no control over but I have avoided me using a card to get what I want.........JMHO

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4 minutes ago, bersaguy said:

You have a point but if I am wanting to buy a gun that will require a credit card I am the type that will wait till a used one comes up for sale and do a FTF or buy one in state that can be shipped and pay cash. I will just put the cash back until I have enough to buy said gun. I do realize that what the seller does with the money I have no control over but I have avoided me using a card to get what I want.........JMHO

If new gun sales stop, or are heavily impacted; you won’t be able to afford to buy a used gun.

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Clip from the Reuters article...

Citigroup declined to comment on the idea though it noted in a blog that current payment systems do not allow it to see exactly what items customers are buying at the checkout aisle.

 

Citi provides store-branded credit cards to various retailers. None currently sell guns but if Citi were in talks with such a retailer, Skyler said, “we would want to see these best practices used at their point-of-sale.”

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7 hours ago, DaveTN said:

I can’t think of any circumstances where a business would sell a firearm without a background check, Bumpstocks are a non-issue, so this is about 21 year old age requirement and high capacity magazines.

Depending on how the wording of the policy is interpreted it might not even be as much about the 21 year old age requirement as it would seem.  The policy seems to state that firearms sales be restricted for people under the age of 18.  It doesn't say that such sales must be prohibited nor that such sales must be limited to people 21 or older.  As I am sure everyone here knows, currently in TN an 18 year old can legally purchase most long guns from an FFL but cannot purchase a hand gun from an FFL.  As such, in TN - by law - sales of firearms are restricted (not prohibited) for people under the age of 18.

Still, for a financial instution to get into dictating to the companies they work with the legal activities in which said companies are or are not allowed to engage - whether sales of firearms, sales of certain books, sales of adult movies or sales of chainsaws (for environmental 'responsibility')  is a step in a very bad direction, IMO.

Edited by JAB
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This type social engineering frosts my a$$.  The utter gall of these globalists  just infuriates me!  Dicks tried this crap after the Sandy Hook shootings, and I havent spent a dime in Dicks since then.  Did my lack of patronage matter to Dicks?  Probably not, but they still arent getting my money, cuz it matters to me, at least.  Just like I dont go to places that ban guns unless I almost have to. Ive long heard that some of these banks make it difficult to be a FFL anyway.  As was reportedly once said by a patriot, "we must hang together, or we will surely hang separately!" , 

 

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This type social engineering frosts my a$$.  The utter gall of these globalists  just infuriates me!  Dicks tried this crap after the Sandy Hook shootings, and I havent spent a dime in Dicks since then.  Did my lack of patronage matter to Dicks?  Probably not, but they still arent getting my money, cuz it matters to me, at least.  Just like I dont go to places that ban guns unless I almost have to. Ive long heard that some of these banks make it difficult to be a FFL anyway.  As was reportedly once said by a patriot, "we must hang together, or we will surely hang separately!" , 
 
Check out Dick's late st financial reports. They are feeling the lack of patronage from a lot of people, not just gun owners.
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