The stock of Citigroup Inc (NYSE:C) closed at $69.14 gaining 1.86% in yesterday’s trading session. Citigroup is putting in place restrictions that will govern the sale of fire arms by its business customers .In its latest statement it outlined that those considered under age or the ones that will not have passed the background check will be prohibited from selling the fire arms.
As per the new policy put in place on Thursday, a lot of things have come to the lime light, one of them being the barring of the sale of the bump stocks as well as the high-capacity magazines. Fundamentally it will be applicable to those clients that provide credit cards that are backed by the company. It could also be about those clients using banking services or those who are keen on raising capital through the company.
Some rules were drafted and the company termed them “common-sense measures.” One thing about them was the fact that they outline similar restrictions setup by some of the high end retailers.
It was just recently when news came up about a shooting incidence that took place in Parkland. What followed the unfortunate incidence was the decision by the corporate America to dissociate itself from the powerful gun lobby. The other thing was about the sweeping consumer boycotts which ended up destabilizing business activities in the nearby areas.
But the shocking aspect was that contrary to the federal law makers performing their roles as was required, they took limited action. Earlier on, president Trump had made a promise to pursue gun control measures. Matters seem to have taken a completely different trajectory since the US leader has walked out of his promise. A lot of people expected that he would be giving his backing to the proposals set forth by National Rifle Association which had everything to do with arming teachers.
The co-president of the Brady Campaign to Prevent Gun Violence Avery Gardiner disclosed that the move by CITI was a clear demonstration of the changes the rest of the financial firms could end up making in the wrong run.
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