Louisiana Blocks Citigroup/BOA Bond Sales over Gun Policy

Baton Rouse, LA – Louisiana’s state bond commission voted 7-6 to ban Bank of America and Citigroup from an upcoming bond sale, citing the banking institutions’ “restrictive” gun policies. The move follows policy changes earlier this year to end lending to firearms manufacturers that make modern sporting rifles and refusal to do business with those who sell firearms to 18-20-year-old adults. U.S. Sen. John Kennedy (R-La.) tweeted, “If you have zero respect for the U.S. Constitution, then you don’t need to do business with the state of Louisiana.” Sen. Kennedy petitioned the Government Services Administration to cancel Citigroup’s federal contracts following the move, which has caught the attention of the Senate Banking Committee Chairman Mike Crapo (R-Idaho) who has demanded answers from both Bank of America and Citigroup, who received taxpayer bailouts in the last economic recession.

Sources: NSSF Govt Relations