Citi to drop policy restricting services to retail clients selling firearms

Since the Trump administration took office in January, U.S. banks and regulators have come under scrutiny from lawmakers over allegations of denying services to certain industries or political groups. "We appreciate the concerns that are being raised regarding 'fair access' to banking services, and we are following regulatory developments, recent executive orders and federal legislation that impact this area," the U.S. banking giant's Head of Enterprise Services and Public Affairs Edward Skyler said in a blog post. Citi added it will update its employee code of conduct and customer-facing global financial access policy to clearly state it does not discriminate on the basis of political affiliation.