Press releases

‘If you want to make banking a red versus blue issue, then you don’t need to do business with the federal government.’

WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) today introduced the No Red and Blue Banks Act to prohibit the federal government from giving contracts to banks that discriminate against lawful businesses based solely on social policy considerations.  This legislation will ensure that banks like Citigroup and Bank of America, which enacted policies infringing on the Second Amendment rights of businesses, will not be awarded lucrative federal government contracts.  

On March 22, Citigroup issued a press release detailing how it will penalize banking clients who follow federal, state and local laws.  Citigroup’s new policy tells businesses what kind of firearms and accessories they can stock in their stores, and who they can sell them to.  On April 10, Bank of America announced that it would no longer loan money to businesses that manufacture semi-automatic rifles.  Sen. Kennedy has previously made remarks on the Senate floor about this important issue.

Click here or the photo below to watch Sen. Kennedy’s remarks in the Senate Banking Committee today:

Constitutionally Offensive: “Targeting firearms owners and business owners is not only an affront to responsible gun owners across this country; it’s a threat to the sanctity of our Constitution and the Second Amendment.”

Red Banks and Blue Banks: “Citigroup and Bank of America have decided to make banking a red versus blue issue by trampling on the Second Amendment rights of small business owners.  And if additional big consumer banks come out with similar anti-gun policies, it will get harder and harder for businesses in Louisiana and elsewhere to find banking services.  We’ll have red banks and blue banks.”

Banks Should not be Rewarded for Discriminating: “I want to make sure that the federal government isn’t rewarding this behavior with even more taxpayer dollars.  I have already petitioned the General Services Administration to cancel the federal government’s $700 billion contract with Citigroup.”