Citigroup has discriminated against the firearms sector, the office of Texas Attorney General Ken Paxton said, making a decision that ‘has the effect’ of halting the bank's ability to underwrite most municipal bond offerings in Texas
has discriminated against the firearms sector, the office of Texas Attorney General Ken Paxton said, making a decision that "has the effect" of halting the bank's ability to underwrite most municipal bond offerings in Texas.
Texas enacted a law in 2021 that prohibited government contracts with entities that discriminated against the firearms industry. It had been determined that Citigroup had a policy that discriminated against a firearms entity or firearms trade association, Brock wrote in the letter, reported Bloomberg.
The report also added that a Citi spokesperson had said the company did not discriminate against the firearms sector and that it believed it was complying with the Texas law.
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