The fourth-largest bank in the United States, Citigroup, has stepped up in securing reproductive healthcare rights for its employees, offering to cover their expenses in states with restrictive reproductive healthcare laws, and angering Texas Republicans.
Citigroup disclosed its new healthcare policy in a regulatory filing with the U.S. Securities and Exchange Commission, which was filed on March 15. In the filing, Citi said that in response to the changes that were being made to reproductive healthcare laws in certain states across the nation, beginning this year, Citi will provide travel benefits in order to facilitate access to adequate resources.
Texas has one of the most restrictive abortion laws in the U.S., effectively outlawing almost all abortions in the state by banning abortions after the six-week mark, which is before most women know they are pregnant. The law took effect in September and has been one of the most controversial laws since the moment It was enacted.
Texas Republicans are not leased. Republican Party of Texas chairman Matt Rinaldi said the policy was “appalling,” and said that his group is urging Republicans nationwide to snub Citi’s services.
Texas’s law found a loophole to exploit by making people bounty hunters against abortion seekers and anyone who helps them. There is an unusual provision in the law that allows Texas residents to sue clinics, doctors, nurses, drivers — literally anyone — who helps women get the procedure. If the lawsuit is successful, the citizen can be awarded at least $10,000.
Citi’s CEO Jane Fraser is the first woman to lead the bank or any other major Wall Street firm.
Citi is not the only company that has said it would protect women’s healthcare, with other corporations coming out to say that they too will help employees in states that have restrictive laws.
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