Lawmakers Urge Punishment For Banks That Won’t Back Drillers
- Trump asked to hit banks that limit fossil fuel lending
- Move comes as banks edge away from coal mines, Arctic drilling
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Three dozen lawmakers are pushing the Trump administration to get tough on banks and asset managers that restrict financing for oil drilling and coal mining, arguing they are “discriminating against America’s energy sector” and it “must be confronted.”
In a released Friday, the lawmakers told President Donald Trump that he should punish those lenders by blocking them from participating in federally guaranteed loan programs created in response to the coronavirus, including the Paycheck Protection Program.