Citigroup recently announced the reversal of its policy that restricted banking services to retail clients selling firearms, a practice implemented in 2018. The decision, made in response to concerns over fair access to banking services, signifies a shift in approach for Citigroup, which will no longer have a specific policy relating to firearms.

This change comes after criticism from President Donald Trump and other conservatives regarding the perceived unfair practice of “de-banking” by U.S. financial institutions. Trump, in a virtual address at the World Economic Forum in Davos, highlighted complaints from conservatives about banks limiting their business activities.

Citigroup’s previous firearms policy, established in 2018 following the Marjory Stoneman Douglas High School shooting, included restrictions on retail clients selling firearms. The policy aimed to promote best sales practices and risk management, addressing issues such as background checks, age restrictions, and the sale of certain firearm accessories.

In response to the evolving landscape, Citigroup will update its Employee Code of Conduct and Global Financial Access Policy to emphasize non-discrimination based on political affiliation. This move demonstrates the bank’s commitment to serving all clients fairly and improving transparency and trust in the banking sector.

The broader context of banks and politics in America involves ongoing debates and actions, with conservative-led states considering legislation to penalize financial institutions for policies perceived as discriminatory. The intersection of banking services, firearms policies, and political ideologies continues to shape discussions and actions within the financial sector.