Citigroup is again suffering at the hands of a protest group. On Friday a California consumer group hired a professional sky-writer to sky-write the first 5 digits of Citigroup CEO Charles Prince's social security number high above Citigroup's headquarters building at 53rd and Lexington in New York City. The consumer group is said to have purchased Prince's number online for just $30.
California-based The Foundation for Taxpayer and Consumer Rights is angry that Citigroup is paying millions to lobby the passing of legislation which will nullify California's recent landmark financial privacy law. Citigroup is said to be keen to overturn the legislation as it prevents the sharing or selling of private information amongst affiliate companies - and Citigroup has 2,400 of them.
The giant financial services company is said by the consumer group to have spent $4.6m so far this year lobbying on Capital Hill to take away Americans' privacy rights.
Postponed twice due to cloud cover, Friday's stunt was designed to make the point that personal privacy is important.