Citigroup Inc. is once again facing an ouster from the booming Texas municipal-bond market after the state’s Attorney General Ken Paxton’s office determined the bank “discriminates” against the firearms industry.
The ruling indicates that the New York-based bank runs afoul of a Republican-backed law passed nearly two years ago that bars most government contracts with companies that engage in anti-gun business practices. The decision appears to halt the bank’s ability to underwrite most municipal-bond offerings in the state.
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