The Commercial Finance Association recently apologized to members for allegedly racist remarks made by former New York City Mayor Rudy Giuliani at one of its events, the New York Observer reported Friday.

Giuliani was keynote speaker at CFA's annual 40 Under 40 Awards dinner, held Sept. 22 at the Waldorf Astoria Hotel in Manhattan. During his speech, the former mayor reportedly went off script to talk about illegal immigration and, as an example, pointed to "the Mexicans" working in the hotel's kitchen, anonymous sources told the Observer.

"It was bad. You could hear a pin drop. I think he was looking for applause," one person told the publication.

CFA CEO Bob Trojan apologized to members for Giuliani's remarks an email sent out the following Monday. While Trojan didn't point to what the mayor had specifically said, he acknowledged that many in the audience were offended by the comments.

"At CFA's 40 Under 40 Awards last Thursday night, keynote speaker Rudolph Giuliani veered sharply off course from the leadership message he agreed to deliver and presented unscripted personal opinions which were independent of CFA's political position or core values," Trojan said in his email.

Giuliani, perhaps best known for his leadership of New York during the Sept. 11 terrorist attacks, has in recent months morphed into one of Republican presidential candidate Donald Trump's most vocal supporters. That connection has reportedly cost Giuliani at least one speaking gig at an association event, with the International Council of Shopping Centers dropping him as a keynote speaker at an upcoming New York conference after receiving complaints from members. http://bit.ly/2dmOltm

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