- Citi will pay the costs of any US staff member forced to leave their state to get an abortion.
- The benefit could include accommodation and airfare, a person familiar with the policy told Bloomberg.
- The bank's position is part of a corporate pushback in the US against the rise in restrictive state abortion laws.
Citi will cover the travel costs of US-based staff members who have to travel outside of their home state in order to receive an abortion.
The bank's policy, revealed in a proxy filing issued ahead of its shareholder meeting in April, is the latest corporate pushback against efforts by mainly Conservative legislators to restrict access to abortion using state laws.
"In response to changes in reproductive healthcare laws in certain states in the U.S., beginning in 2022 we provide travel benefits to facilitate access to adequate resources," the bank stated.
An unnamed source "with knowledge of the matter" told Bloomberg that this could include airfare and lodgings.
Conservative legislators have been pursuing laws at state level to restrict access to abortion for several years, in the hopes that they can ultimately overturn the Supreme Court ruling that legalized abortion in 1973.
The most high profile, and restrictive, of late is the so-called "Heartbeat Bill" introduced by Texas governor Greg Abbott last September. The bill makes it illegal to carry out an abortion after the detection of a fetal heartbeat, which can happen as early as six weeks into a pregnancy — before many women even realize they are pregnant. It also enables state citizens to sue anyone who helps facilitate the procedure, including lawyers, family members, and even taxi-drivers.
The Texas Supreme Court rejected what has been seen as the final challenge to the bill on March 11. It leaves residents seeking an abortion with little choice but to travel to nearby states where the procedure is still legal, a journey of potentially hundreds of miles, or risk legal action.
Several other states are pushing to introduce stricter limits around when an abortion can legally take place, or have made it more difficult for abortion clinics to get funding or operate.
Citi has around 8,500 staff based in Texas, according to Bloomberg.
Citi declined to comment further on the policy when contacted by Insider.
Citi is not the only firm offering support to employees affected by abortion restrictions in the U.S.
Shortly after the passing of the "Heartbeat Bill," Salesforce offered to help relocate any staff based in states that restrict abortion.
The Dallas-based owner of Tinder, Match.com, created a fund to help any affected Texas-based staff seek help out of state.
And ride-hailing firms Lyft and Uber said they will pay the legal costs of any drivers sued for taking women to abortion appointments.
Fertility and reproductive health-related benefits have become a key corporate battle ground in the war for talent
Citi's policy on abortion support could be seen as part of a wider push in corporate America to provide benefits related to employees' reproductive health.
Such perks, including IVF and other fertility treatments, have become an increasingly popular way for firms to attract and retain staff.
In the proxy filing Citi said that it had enhanced its fertility coverage and introduced a new program to reimburse employees for the cost of adoption or surrogacy.
The bank extended its parental leave policy in 2020, giving all employees a minimum of 16 weeks paid maternity leave and four weeks paid parental leave, per the filing.