Citi CEO Says Abortion Benefit Was Based on Longstanding Policy

Citigroup Inc. Chief Executive Officer Jane Fraser said her company’s decision to cover travel costs for employees seeking abortion was based on longstanding company policy, and wasn’t intended as a political statement.

“What we did here was follow our past practices,” Fraser said at the bank’s annual shareholder meeting Tuesday. “We’ve covered reproductive health-care benefits for over 20 years, and our practice has also been to make sure our employees have the same health coverage no matter where in the U.S. they live.”

In Texas, where Citigroup has more than 8,500 employees, Governor Greg Abbott signed legislation last year that ...