Supporting Statement:
Financial institutions are essential pillars of the marketplace. Because of their importance in AmericaÕs economy, many
federal and state laws prohibit them from discriminating against customers. The UN Declaration of Human Rights
recognizes that Òeveryone has the right to freedom of thought, conscience, and religion.Ó1 These guarantees are an important part of protecting every AmericanÕs freedom of speech and free exercise of religion. As shareholders of Citigroup, we believe the company must provide financial services on an equal basis without
regard to factors such as race, color, religion, sex, national origin, or social, political, or religious views.
We are concerned with recent evidence of religious and political discrimination against customers by companies in
the financial services industry, as seen in recent examples2
and the 2022 Statement on Debanking and Free Speech.3
CitigroupÕs charitable giving policy4 excludes religious organizations. As noted in the 2023 Viewpoint Diversity Score
Business Index5, Òcharitable giving policies [ought not] bar nonprofits from receiving support simply because of
their religious status.Ó
As per the 1792 ExchangeÕs report6, which lists the Corporation as ÔHigh RiskÕ, Citigroup Òdoes not protect its
employees from viewpoint discrimination.Ó This lack of protection raises serious concerns over the possibility of
politicized debanking which Citigroup shareholders have a right to have assuaged.
In the 2023 Viewpoint Diversity Index,7
Citigroup maintains a score of 0 (out of 100) in its respect for viewpoint
diversity in the public square. In the workplace, Citigroup scores 12, with the report noting that Òno publicly
accessible policy affirms a minimum degree of respect for freedom of religion and viewpoint diversity in the
workforce.Ó This lack of respect for viewpoint diversity can snowball into concerns over debanking of politically
inconvenient clients.
In early 2023, shareholders called for Chase, Mastercard, PayPal, Capital One, and Charles Schwab to assess
whether they have adequate safeguards to prevent politicized de-banking.8 Nineteen state attorneys general and
fourteen state financial officers specifically called out Chase for their de-banking of a non-profit committed to
advancing religious freedom and demanded action from the company to address such widespread concerns.9
The Index notes that Citigroup Òdid not respondÓ to a request for increased transparency in the CompanyÕs
procedures regarding Òrestricting services or content.Ó In absence of clearer protocols, Citigroup could be the next
corporation to run such reputational risk. Value for shareholders must take priority over activist demands

Filed by American Family Association