Citi has new gun rules

Citigroup is imposing restrictions on corporate clients that sell or manufacture guns — the first major bank to impose limits on gun sellers following a national outcry for increased gun control.

Citi is requiring that corporate and small business clients sell guns only to people over 21 and make gun buyers pass background checks.

The bank is also requiring gun-selling clients to not sell high-capacity magazines or bump stocks, Michael Corbat, the CEO, said in an internal memo obtained by The Post.

The effect of the new rules may be limited, some said.

“It makes a good headline, but we don’t have any way to see the numbers around it,” Brian Kleinhanzl, a bank analyst at KBW, told The Post.

Corbat, in the memo, conceded that Citi had “few” clients who manufacture guns.

“As an avid outdoorsman and responsible gun owner, I know that some will find our policy too strict while others will find it too lenient,” Corbat wrote. “Wedon’t have the perfect solution to supporting our Constitution while keeping our children and grandchildren safe.”

The bank’s new restrictions come weeks after 17 students and faculty members were killed at a high school in Parkland, Fla., prompting student walkouts and the call for more gun control laws.

Clients affected by the new Citi rule include those with Citi-branded credit cards, those that bank with Citi or those financed by Citi.