(Bloomberg) -- The Texas Attorney General’s staff met with municipal finance executives from Wells Fargo & Co. and RBC Capital Markets as Ken Paxton’s probe into whether the Wall Street banks “boycott” the fossil fuels industry drags on.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyFed to Signal Delay of Interest-Rate Cu
(AP Photo/Mark Lennihan, File)
As corporate America has grown increasingly “woke” over the past few years, one of the biggest targets of supposedly socially conscious financial institutes has been the firearms industry. Banking giants like Bank of America and Citigroup have declared that they won’t do business with companies that manufacture modern sporting rifles, and even independent gun shops have found themselves shut out of banking with some of the industry’s biggest players.
A bill in Texas is aiming to incentivize these banks to drop their anti-gun activism by blocking them from doing any business with state and local governments, and the legislation is one step closer to passage after the House gave its approval on Thursday afternoon.