The bank said it has few gun manufacturing companies as clients, but those it does work with will be asked to provide details about their product and distribution networks. If business customers decline Citigroup’s restrictions, the bank said it would work with them to “transition their business away.” The company declined to name clients or describe the extent of affected partnerships but said that “real revenue is at risk” if relationships fall through and customers protest. Some of Citigroup’s clients, like Walmart, already adhere to the new policies. Citigroup said it did not have the technology nor the legal ability to monitor gun purchases at the payment-processing level, but said that the industry was discussing the possibility. Mr. Corbat said that, in many recent discussions about the new policy, “there hasn’t been a consensus, but we also haven’t come to this decision in a vacuum.”

Source: New York Times March 22, 2018 15:00 UTC