Citi draws ire of Texas GOP over travel benefits for workers seeking abortions

Citigroup, the country’s fourth-largest bank, is angering Texas Republicans over their last job benefit: It offers to cover the travel expenses of employees living in states with restrictive reproductive health care laws, including the one recently enacted by the state. law banning most abortions after six weeks.

Citi revealed the new policy in a regulation archiving filed with the U.S. Securities and Exchange Commission on March 15. The bank said: “In response to changes in reproductive health laws in certain US states, from 2022 onwards we offer travel benefits to facilitate access to adequate resources.”

In an emailed statement to CBS MoneyWatch, Texas Republican Party President Matt Rinaldi called the policy “horrible” and said the group is asking Republicans to turn down Citi’s services.

“Republicans should avoid entrusting their finances to Citibank and other companies hostile to them and their values,” Rinaldi said. He added: “Citigroup’s decision to fund the murder of unborn children with a heartbeat is appalling, but not surprising, given [its] past adoption of far-left causes “.

Texas law, which went into effect in September, effectively prohibits abortions in Texas. The measure prohibits abortion after detecting embryonic cardiac activity, which is usually around six weeks pregnant, often before a woman knows she is pregnant.

The law includes an unusual provision that allows Texas residents to sue clinicians, doctors, nurses and even people who drive women to get the procedure for at least $ 10,000.

Citi did not immediately respond to a request for comment.

The company ‘s new policy was adopted under the leadership of CEO Jane Fraser first woman to run the bank or any major Wall Street company. But other corporations have also said they would help state employees with restrictive abortion laws.

Salesforce CEO Mark Beinoff told the company in September will help employees who want to leave Texas if they decide to because of the abortion law. And Dallas-based Match Group CEO Shar Dubey set up a fund to help any of the company’s Texas workers who may need to travel out of state for the procedure.

In:
• Texas
• abortion