This week, NRA-ILA and NRA's Publications Division learned of an issue regarding the disapproval of credit by Citibank South Dakota for a respected manufacturer of scope mounts for firearms. Upon investigation with Citibank, it appears that the initial disapproval was based on the type of business the company is engaged in. Citibank applies an industry code to every business that seeks credit and it appears that the company was assigned a code that Citibank does not lend to. However, we believe this code was misapplied in this case.
At this time, it does not appear that Citibank is actively denying banking services or credit in an attempt to discriminate against firearm-related businesses. Rather, we believe that there was a misunderstanding as to the nature of this particular company's business.
NRA-ILA staff will continue to work with Citibank to resolve this situation and to help prevent similar problems in the future.
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