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

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Financial Times 2 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.