Citigroup puts restrictions on gun sales

NEW YORK (AP) — Citigroup is putting new restrictions on firearm sales by its business customers, making it the first bank to announce changes to its policies in the wake of the school shooting in Florida.

Citigroup will require its clients and business customers not to sell a firearm to anyone who hasn't passed a background check or anyone under the age of 21. The bank also will not allow its customers to sell what are known as bump stocks and high-capacity magazines.

The restrictions apply to Citi clients with credit cards backed by Citigroup or bank with the company, be it traditional banking services or activities like raising capital.

Citi will also be reviewing any banking relationships it might have with gun manufacturers, officials said Thursday.