Huh.
CitiGroup is also one of the global companies moving into "Islamic banking" after some Islamic interests bought large stakes in CitiGroup, opening branches that make loans under Sharia religious law. (Charging 'rent' on loans, not interest, semantics used to satisfy the no-interest restriction). And AFAIK, such services are
not available to anyone who walks into an Islamic bank.
CIIB is also working closely with the other Islamic banks to develop a range of Islamic products which are attractive for a broad investor base. These products will incorporate the knowledge, technology and experience of Citi from various markets while conforming to the principles of Sharia. With this, we hope to deliver continued value for our customers and expand the horizons of Islamic Banking.
So they're anti-gun, and pro-Sharia.
Innerestin'. Who's their biggest stakeholders now, I wonder? Soros? People in Dubai? (I know it's 'Islamic investors' but they won't say more than that.) Who?
In terminating CDNNs merchant services account, and freezing $75,000 of CDNNs card collections, Citi Merchant Services (CMS) and First Data specifically cited the sales of firearms in interstate commerce as the reason.
Also, CitiCorp is going to get their posterior sued off, I think.
Charlie Crawford, president of CDNN Sports Inc., explained: We were contacted recently by First Data/Citi Merchant Services by a June Rivera-Mantilla stating that we were terminated and funds were being seized for selling firearms in a non-face-to-face transaction. Although perfectly legal, we were also informed that no transactions would be processed in the future, even for non-firearms.
Um. I just bought from CDNN. They do not ship directly to you. They ship TO AN FFL, which satisfies all GCA law requirements. They don't have a legal leg to stand on. I hope CDNN gets a massive settlement plus damages.