Mar 18, 2022
Texas Lawmaker Targets Citi Bond Business Over Abortion Funding
Bloomberg News
,(Bloomberg) -- A conservative Texas lawmaker warned Citigroup Inc. that it could be barred from underwriting municipal bonds and that employees could face criminal prosecution unless the bank backs off a policy to pay for workers to travel outside Texas for an abortion.
Texas state representative Briscoe Cain, a Republican, said Friday he sent a cease-and-desist letter to Citigroup Chief Executive Officer Jane Fraser. He also sent letters to leaders of some major non-profit organizations that have raised millions to pay travel costs for women seeking abortions outside Texas.
A spokeswoman for Citigroup did not immediately respond to request for comment.
Read More: Firms Covering Abortion Travel Also Have Female CEOs in Common
©2022 Bloomberg L.P.