Crapo criticizes Citibank, Bank of America on gun moves

The Senate’s top overseer of banks is criticizing moves by Citigroup Inc. C, -0.31% and Bank of America Corp. BAC, -0.05% to stop doing some business with the gun industry following the deadly shooting in February at a Florida high school.

Senate Banking Committee Chairman Mike Crapo (R., Idaho), in letters to the heads of both banks made public Wednesday, said he was concerned when large national banks “cut off financial services for lawful businesses they may disfavor.”

Mr. Crapo’s letters, to Bank of America’s Brian Moynihan and Citigroup’s Michael Corbat, come after the firms took steps in recent weeks to curtail business with the gun industry.

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