Republicans vow to probe US banks’ ‘ESG agenda’ in Congress

Financial Times LogoFinancial Times2 mo ago

Republicans vow to probe US banks’ ‘ESG agenda’ in Congress - Financial Times

Quick Summary:

The Kentucky lawmaker said he worried that “additional strenuous capital requirements” could be introduced, even though Powell has said the existing ones are appropriate.“Sidelining capital, preventing the banking system from deploying capital in the real economy.

He blasted Democrats for being “cynical and hypocritical” in failing to have raised the debt limit over the past two years when they controlled both chambers of Congress, and called for talks.“Avoiding default is obviously critically important and we’re not going to default.

To the extent they get into this game of capital allocation and climate finance and this network for the greening of the financial system, that’s when our reform agenda would kick into high gear,” he said.

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Article Details

Author / Journalist: James Politi

Category: MarketsFinanceInvesting



Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-28 @ 15:00:39 (2 months ago)

News Timezone: GMT -5:00

News Source URL:

Language: English

Article Length: 911 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 4892563

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Update Frequency: 8 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 16 hours ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #3

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