My interpretation of Citi’s newfound commitment to fair access to financial services regarding firearms: Citi has always been “fully committed” to treating all clients fairly, no exceptions. But now, because we’re forced to comply with every new regulatory development, Executive Order, and federal law, we’ll be “striking the right balance” between that commitment and the demands placed on us. We will also no longer maintain any specific policy regarding firearms, only because that’s what we’re required to do.
Citi has always been fully committed to treating all current and potential clients fairly and we have policies, procedures and controls in place for this express purpose. At the same time, we appreciate the concerns that are being raised regarding “fair access” to banking services, and we are following regulatory developments, recent Executive Orders and federal legislation that impact this area.
In light of those developments, we took an objective look at our policies and practices with the intent of striking the right balance between our commitment to fair and unbiased access to our products while continuing to manage all risks to the bank appropriately. As a result of that analysis, we are taking several actions.
We will update our employee Code of Conduct and our customer-facing Global Financial Access Policy to clearly state that we do not discriminate on the basis of political affiliation in the same way we are clear that we do not discriminate on the basis of other traits such as race and religion. This will codify what we’ve long practiced, and we will continue to conduct trainings to ensure compliance.
Edward Skyler, Head of Enterprise Services & Public Affairs
