Citibank to require clients to restrict gun sales

Citibank to require clients to restrict gun sales
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Citibank announced Thursday that it will start requiring clients to place some restrictions on gun sales, including banning the sale of firearms to anyone under the age of 21.

The bank will also require retail clients to only sell guns to individuals who have passed a background check and to not sell bump stocks or high-capacity magazines.

The company announced the changes in a statement condemning gun violence and slamming lawmakers for failing to pass gun control measures. It said the policy would apply to new clients.

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“We have waited for our grief to turn into action and see our nation adopt common-sense measure that would help prevent firearms form getting into the wrong hands. That action has sadly never come and as the weeks pass after the most recent mass shooting, it appears we are stuck in the same cycle of tragedy and inaction," the statement read.

The statement made it clear the bank is not seeking a ban on all guns. 

“We want to do our part as a company to prevent firearms from getting into the wrong hands," the statement said.

The bank said that it would start “due diligence conversations” with the few gun manufacturers that it does business with “to better understand what products they make, what markets and retailers they sell to and what sales practices those retailers follow to ensure adherence to the best practices outlined above.”

“We know that the actions we are talking today will invite passion on both sides. We don’t have the perfect solution but we have come to the conclusion that we must do our part to keep guns out of the hands of those who wish to do harm. And we hope our actions help that vital goal," the company said.

The announcement comes more than a month after the mass shooting at a Parkland, Fla., high school.

Citibank is the latest corporation to place restrictions on gun sales in the wake of the Florida shooting. Chains like Dick's Sporting Goods and Walmart have also announced plans to raise the minimum age for firearm purchases to 21, and Kroger said it will stop selling firearms and ammunition entirely at its Fred Meyer stores.

Updated at 3:08 p.m.