6 US banks under investigation for prioritizing WOKE climate agenda over investors' interest

By royluarca // 2022-11-02

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Nineteen Republican attorneys general (AGs) announced a formal investigation on six major U.S. financial institutions over their investments related to Environmental Social Governance (ESG). Such investments, they argued, tend to promote the woke agenda instead of the interests of bank investors. The six major banks – Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo – have become subservient to the United Nations (UN). To this end, they have signed on to the UN Net-Zero Banking Alliance, pledging to achieve net-zero emissions in their lending and investment portfolios by 2050. Seeing this kowtowing to the globalist UN across the country, the 19 AGs bonded together to put a stop to the practice. Speaking to the Epoch Times, the AGs said the investigation seeks to enforce consumer protection laws. They added that a lot of legal issues are at play in their class action against the banks, including anti-trust issues and unfair lending practices. (Related: Nineteen states launch investigations into banks with climate cult ties.) "We are leading a coalition investigating banks for ceding authority to the UN, which will only result in the killing of American companies that don't subscribe to the woke, climate agenda," Missouri AG Eric Schmitt, who is leading the probe, said in a statement. "These banks are accountable to American laws. We don't let international bodies set the standards for our businesses.” Meanwhile, Montana AG Austin Knudsen warned that companies considering ESG factors in their investments may be "running afoul" of their duties to investors. "We got involved in this investigation because this is another attempt by the liberal woke left to shove their ideas down our throats. Since they can't change the laws using the political process, they want to do it by weaponizing business," he said. "They are doing this out of some misplaced desire to advance their liberal agenda."

Schmitt: Six banks seek to "shut down lending" to non-woke entities

During an appearance on Fox News, Schmitt told anchor Laura Ingraham that the six banks they are probing seek to "essentially shut down lending" to entities that do not adhere to the woke agenda. "For creditworthy applicants who happen to be in the oil and gas industry, the coal industry, the auto manufacturing industry or agriculture where they have diesel vehicles or cows, you know, the stench that everybody's complaining about that pollutes the world, I suppose, as they think – it means that they're going to shut down lending and make everything more expensive," said the Missouri AG. "That's a real problem." He mentioned that there is a risk that the six banks would refuse to lend to applicants seeking a loan simply because they don't adhere to woke liberal agendas such as feminism, the gay agenda and critical race theory. According to the Missouri AG, the six banks are so big that they constitute "40 percent of the banking assets in the United States." "We launched this investigation because the Left is going to do what they could never get done legislatively, which is stuff like this. You have corporate banking and the investment industry trying to flex their muscle and pressure businesses into a political direction and political action. But that's not their function. Their job is to provide credit and earn profit for shareholders. But based on the six banks' ESG investments, they seem to regard the UN and the global elites as their masters. Watch Glenn Beck explain how big banks, such as the six being investigated by the AGs, could sway the U.S. economy below. This video is from the High Hopes channel on Brighteon.com.

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Schmitt: Six banks seek to "shut down lending" to non-woke entities

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