Edition:
United States

Citigroup Announces New U.S. Commercial Firearms Policy


Thursday, 22 Mar 2018 11:49am EDT 

March 22 (Reuters) - Citigroup Inc ::ANNOUNCES A NEW U.S. COMMERCIAL FIREARMS POLICY.FIREARMS POLICY WILL APPLY ACROSS FIRM, INCLUDING SMALL BUSINESS, COMMERCIAL & INSTITUTIONAL CLIENTS, CREDIT CARD PARTNERS ‍​.NEW U.S. COMMERCIAL FIREARMS POLICY "PROMOTES THE ADOPTION OF CURRENT BEST PRACTICES REGARDING THE SALE OF FIREARMS"‍​.WILL REQUIRE NEW RETAIL SECTOR CLIENTS NOT TO SELL FIREARMS TO SOMEONE WHO HASN’T PASSED A BACKGROUND CHECK‍​.WILL REQUIRE NEW RETAIL SECTOR CLIENTS RESTRICT THE SALE OF FIREARMS FOR INDIVIDUALS UNDER 21 YEARS OF AGE.WILL REQUIRE NEW RETAIL SECTOR CLIENTS NOT TO SELL BUMP STOCKS OR HIGH-CAPACITY MAGAZINES.UNDER NEW FIREARMS POLICY, WILL REQUIRE NEW RETAIL SECTOR CLIENTS OR PARTNERS TO ADHERE TO SOME "BEST PRACTICES".WILL BE INITIATING DUE DILIGENCE CONVERSATIONS WITH COMPANIES MANUFACTURING FIREARMS TO BETTER UNDERSTAND PRODUCTS THEY MAKE, AMONG OTHER THINGS ‍​.WILL APPLY DUE DILIGENCE SCREENING TO POTENTIAL CLIENTS GOING FORWARD‍​. 

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