Banks face GOP blowback over anti-gun policies

Ted Cruz.
Sen. Ted Cruz. Photo: Alex Wong/Getty Images

Bank of America and Citigroup are facing blowback from Republican politicians after using their financial influence to support gun restrictions and discourage the spread of assault weapons.

Why it matters: The backlash shows how private-sector gun control measures can put the companies under just as much pressure as politicians who try to restrict guns through new laws.