-- Jamie Dimon said Texas risks undermining its business-friendly reputation with laws designed to punish Wall Street banks for policies that limit work with the gun and fossil fuel industries.Markets Rally as Powell Says Fed Has ‘Come Far’: Markets Wrap
Texas Republicans picked a fight with Wall Street over investment policies on firearms and oil in 2021, passing two laws that restricted public contracts with financial firms that “boycott” the fossil fuel sector or “discriminate” against gunmakers.
In a letter last month, Paxton’s office said it was reviewing the compliance of 10 financial firms, including US banking behemoths JPMorgan, Bank of America Corp. and Wells Fargo & Co., over whether they violate the energy law. His office cited their membership in groups seeking to reduce greenhouse gas emissions. JPMorgan, like many of the other banks under review, has maintained it doesn’t boycott fossil fuels or discriminate against firearms companies.
“Some things they have to be very careful about is that their own cities, schools, hospitals all get funding from someone like us and you want that to continue,” said Dimon. “So if you can’t do that, it may hurt the ability to raise money in the proper kind of way.”Local governments have been wary to work with banks that are under Paxton’s review because in Texas, the attorney general’s office approves muni deals.
Tim O’Brien also offered a withering analysis of how the former president views his children Ivanka Trump, Donald Trump Jr. and Eric Trump.
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