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New York, NY – After years of controversy and mounting political pressure, Citigroup has officially reversed its 2018 policy that restricted banking services to firearm-related businesses. The decision comes in response to regulatory developments, executive orders, and a renewed push from the Trump administration to ensure fair access to banking for all Americans—including those in the firearms industry.
In a statement released Tuesday, Citigroup announced it would “no longer have a specific policy as it relates to firearms” and would update its Code of Conduct and Global Financial Access Policy to affirm that the bank does not discriminate on the basis of political affiliation.
Background: A Long History of Discrimination
The now-abandoned policy dates back to the aftermath of the tragic Parkland school shooting in 2018, when Citi took a public stance against gun sales by refusing services to clients who:
- Sold firearms to adults under 21. (perfectly legal).
- Sold “high-capacity” magazines (what most gun owners call standard magazines).
- Sold bump stocks.
- Didn’t conduct background checks—despite the fact that federal law already requires this.
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Citi’s actions quickly drew backlash from gun owners, firearms businesses, and free-market advocates. Critics accused the bank of using its corporate power to push a political agenda while benefiting from taxpayer bailouts—$45 billion of them, to be exact.
A Win for Fair Access & Gun Rights
Under the Trump administration, the heat turned up. Lawmakers, including U.S. Sen. Kevin Cramer and Rep. Roger Williams, introduced the Freedom Financing Act to prevent banks like Citi from discriminating against the firearms industry while enjoying taxpayer-backed protections.
Even more impactful, Republican-led states began passing their own Firearm Industry Nondiscrimination (FIND) Acts, effectively barring banks that engage in anti-gun discrimination from competing for public contracts.Louisiana alone cost Citigroup over $3.4 billion in lost municipal bond business.
Citi’s About-Face
In Citi’s June 3rd statement, Edward Skyler, Head of Enterprise Services & Public Affairs, claimed the original policy was meant to promote “best practices,” but acknowledged the bank had reassessed its stance in light of “recent executive orders and federal legislation.”
While Citi stops short of apologizing, the move signals a major retreat from the kind of corporate gun control that’s increasingly unpopular among both voters and lawmakers.
The Bigger Picture
President Trump, speaking at the World Economic Forum earlier this year, directly called out big bank CEOs like Citi, JPMorgan, and Bank of America for excluding conservative Americans and Second Amendment businesses from basic financial services.
Citi’s reversal is a clear response to that pressure—and a major win for the Second Amendment community.
What Comes Next
With Citi’s policy reversal, the momentum may now shift toward full-scale adoption of fair access principles across the entire banking industry. Gun rights groups are calling on other banks that adopted similar policies—like Bank of America—to follow suit or face continued legislative and financial consequences.
Bottom Line
This is what happens when gun owners, small businesses, and elected leaders push back against corporate overreach. Citigroup’s anti-gun discrimination is officially over, and the financial playing field just got a little fairer for the firearm community.
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