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New York Pushes JPMorgan, BofA, Visa to Reconsider Gun Sales

  • DiNapoli suggests transactions in same class as porn, gambling
  • State’s pension system has $209 billion in market power
Bloomberg business news
Guns in America
Updated on

New York state’s pension funds are urging credit-card companies to consider following Citigroup Inc.’s lead in cracking down on gun-sellers.

Comptroller Thomas DiNapoli, the financial watchdog who also oversees the $209.1 billion retirement system for public employees, sent letters last week to nine companies. He asked them to explore whether gun transactions should be classified with restricted high-risk purchases like porn, illicit drugs and cryptocurrencies, a spokesman said Wednesday.