Citi draws ire of Texas GOP over travel benefits for workers seeking abortions
CBSN
Citigroup, the nation's fourth-largest bank, is angering Texas Republicans over its latest workplace benefit: Offering to cover the travel expenses of employees who live in states with restrictive reproductive health care laws, including the state's recently enacted law banning most abortions after six weeks.
Citi disclosed the new policy in a regulatory filing filed with the U.S. Securities and Exchange Commission on March 15. The bank stated: "In response to changes in reproductive health care laws in certain states in the U.S., beginning in 2022 we provide travel benefits to facilitate access to adequate resources."
In an emailed statement to CBS MoneyWatch, Republican Party of Texas chairman Matt Rinaldi called the policy "appalling" and said the group is urging Republicans to snub Citi's services.
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During his Tuesday night address to Congress, President Trump acknowledged his barrage of tariffs might cause "a little disturbance." But with the stock market tumbling this week in reaction to his import duties, workers with 401(k) plans may wonder about how much that disturbance could affect their retirement savings.
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