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"Senate Banking Committee Chairman Mike Crapo, who worked with Piwowar when the commissioner was a Senate staffer, wrote letters to the chief executive officers of Citi and Bank of America, scolding them for using their “market power to manage social policy.” And a group of House members asked the General Services Administration to cancel a contract with Citi. “This flagrant disregard for American citizens and their God-given Second Amendment rights cannot be tolerated,” Representative Todd Rokita, a Republican from Indiana who helped lead the effort, said in a statement.
Mike Crapo wearing a suit and tie: Senator Mike Crapo© BloombergSenator Mike Crapo While both banks have big lobbying operations in D.C., they appear to have been taken aback by the extent of the backlash. “The gun issue has become the third rail of American politics, and this reaction is not surprising,” says Sam Geduldig, a Republican financial-services lobbyist at CGCN Group in Washington. He points out that the chairmen of the two committees that oversee banks in the Senate and House, Idaho’s Crapo and Jeb Hensarling of Texas, are from strong pro-gun states."