In a quiet but significant reversal, Citigroup has officially rescinded its 2018 policy, which restricted doing business with gun manufacturers and retailers. This policy change marks a significant win for the Second Amendment community and sends a clear message: discriminating against gun owners and the firearms industry is not only bad policy — it’s bad business.
Citigroup’s retreat from its previously anti-gun stance is a direct result of mounting legal, regulatory, and public pressure. After years of enforcing internal guidelines that punished companies engaged in lawful firearm sales, the banking giant has now acknowledged that such policies pose serious legal risks and threaten to violate fair access standards under federal banking regulations.
This shift aligns with a growing national movement to hold financial institutions accountable for ideologically driven discrimination, particularly when that discrimination targets constitutional freedoms.
The History of Citigroup’s Anti-Gun Policy
In March 2018, Citigroup, the third largest bank in the United States by assets, announced that it would no longer provide services to businesses that sold firearms to individuals who were under the age of 21, sold bump stocks or high-capacity magazines, or failed to implement background checks for all gun sales, including private person-to-person transfers.
While the policy did not ban all gun-related businesses from banking with Citigroup, it effectively blacklisted a large number of peaceable companies in the firearms industry, of which conduct operations entirely in accordance with federal and state laws.
At the time, Citigroup’s executive team claimed the policy was about “doing the right thing,” but we saw right through this. It was a blatant attempt to pressure private businesses into adopting gun control standards that state legislatures and the United States Congress have refused to pass.
Policy Change Driven by Fair Access Principles
In its 2025 statement, Citigroup cited “regulatory developments” and evolving interpretations of fair access standards as key reasons for rescinding the policy. While the bank did not provide an exhaustive explanation, several recent legal and regulatory developments likely influenced its decision.
In particular, Citigroup is likely responding to:
- The Office of the Comptroller of the Currency’s (OCC) Fair Access Proposal: First introduced in 2020 and reintroduced under later administrations, this rule aims to prevent large banks from denying services to lawful industries based on ideological preferences. The rule specifically warned against viewpoint-based discrimination, including discrimination against firearms manufacturers and retailers.
- State-level legislation: Multiple states, including Texas, Florida, and West Virginia, have passed or introduced legislation that prohibits state funds from being invested in financial institutions that discriminate against the firearms industry. For example, Texas SB 19, passed in 2021, bars government contracts with firms that engage in such political discrimination.
- Litigation threats and reputational damage: Banks like Citigroup have faced growing scrutiny from pro-gun influencers, lawmakers, and groups like the National Association for Gun Rights. Moreover, public hearings in state capitols across the country have shed light on discriminatory banking practices and raised questions about the legality and ethics of such internal corporate policies.
Citigroup’s policy reversal indicates a recognition that these pressures are not going away, and that continuing to enforce politically / ideologically motivated policies could come at a financial cost.
A Win for Gun Owners and a Warning to Corporate America
The National Association for Gun Rights has long warned about the dangers of corporate gun control. This strategy attempts to financially strangle the firearms industry by denying access to essential business/lifestyle services like banking, insurance, and payment processing.
By rescinding its anti-gun policy, Citigroup has acknowledged that targeting gun-related businesses is not a neutral business decision. It’s a political statement with consequences.
For years, because of the pressure put on lawmakers by groups like NAGR, gun control activists have failed to pass major legislation at the federal level, so they turned their focus to pressuring banks, credit card companies, and payment processors to do their dirty work. This practice, often referred to as “Operation Choke Point 2.0,” involves informal collusion between activists financial institutions, and the federal government to blacklist politically disfavored industries — primarily firearms and cryptocurrency. The Biden administration championed this backdoor scheme.
But Citigroup’s reversal demonstrates that when gun owners, state legislatures, and legal pro-gun advocates fight back, they can force even the biggest Wall Street fatcats to abandon unconstitutional policies.
This is more than a policy change. It is a vindication of the principle that no American should be denied access to the banking system for simply supporting the Second Amendment.
The Broader Battle for Financial Fairness
Citigroup is not the only major financial institution to face scrutiny for discriminatory practices. Over the past decade, several banks and payment companies, including Bank of America, PayPal, and Square, have either cut ties with or imposed additional restrictions on companies in the firearms industry.
At the heart of the issue is whether private financial institutions can deny lawful businesses access to essential services based on political or ideological differences. While the Constitution places limits on government censorship, the First and Second Amendments are increasingly being undermined by corporate actors who are not held to the same standards — unless regulators and lawmakers intervene.
That’s why NAGR supports federal and state policies that:
- Prohibit viewpoint-based discrimination by financial institutions.
- Mandate transparency when accounts or services are denied.
- Require regulators, such as the OCC and FDIC, to enforce fair access laws without political bias.
- Cut off state contracts and investments with companies that target lawful firearm-related businesses.
The fight is not over. Citigroup’s about-face is undoubtedly a big victory. Still, it is only the beginning of a much larger effort to prevent financial institutions from acting as unelected enforcers of political wokeness.
Citigroup’s Next Steps — and What to Watch For
While Citigroup’s formal reversal is encouraging, gun owners and industry advocates must continue to watch closely.
The bank’s announcement did not include a public apology, restitution to affected companies, or a clear statement of support for the Second Amendment. It simply said the policy was no longer in effect.
That means vigilance is still required.
NAGR will continue to monitor whether Citigroup and other institutions:
- Provide equal access to banking services for gun manufacturers, FFLs, retailers, and ammo sellers.
- Resist internal pressure from corporate activists to reimpose restrictions in the future quietly.
- Work in good faith with lawful gun owners and industry leaders.
If Citigroup reverts to discriminatory practices under a different name or policy structure, we will be ready to expose it and mobilize public opposition once again.
Where We Go From Here
The reversal of Citigroup’s anti-gun policy is proof that public pressure works.
It’s a clear message to other banks and corporations: targeting the Second Amendment isn’t just unethical — it’s legally and politically risky.
Gun owners cannot afford to be passive observers. Every time a bank is pressured into canceling accounts, blocking transactions, or denying loans because of a political agenda, the entire foundation of American liberty is weakened.
That’s why NAGR is committed to exposing corporate overreach, fighting discriminatory practices, and defending every lawful American’s right to keep and bear arms — and to do business without harassment or political discrimination.
Take Action
If you are a gun owner, competitive shooter, or a member of the firearms industry and have experienced discrimination from a financial institution, we want to hear from you.
Contact NAGR and share your story. Your voice helps expose the corporate war on gun rights and strengthens our efforts to pass state and federal protections.
We can’t back down now!
About the Author
Taylor Rhodes is the Director of Communications at the National Association for Gun Rights. A seasoned political strategist and unapologetic defender of the Second Amendment, Taylor has led high-impact campaigns at both the state and national levels. He lives in Hoover, Alabama with his wife, Madison, and enjoys bourbon, golf, and collecting firearms—especially his 12.5” Geissele Super Duty.
