The founder and CEO of a new travel network for gay men says that Citgroup froze his start-up's bank account after reading what Citi called "objectionable content" on its blog.

According to Jason Goldberg, the Stanford MBA who runs the start-up website fabulis, Citibank didn't contact him to explain the situation, and he discovered that the company's cash account had been blocked only by chance a few days later. When he called to complain, Citi agreed to "temporarily lift" the freeze pending a "re-review" of the site today.

Citi's move seems like the kind of embarrassing blunder that would send any other huge corporation into an apologetic frenzy. But when Goldberg spoke with a bank representative again this morning, he was told that the compliance department was sticking with its initial decision. The follow-up review, Citi said, indicated that fabulis.com's "content was not in compliance with Citibank's standard policies."

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