Two Dozen Banks Sidestep Texas Law Punishing Gun, Oil Policies
- Texas barred public work with banks seen targeting industries
- The laws triggered a pullback by Citigroup, JPMorgan
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More than two dozen banks have said they can continue working with Texas and its local governments in the wake of new state laws seeking to punish financial institutions that have policies aimed at the gun and fossil fuel industries.
Barclays Plc, TD Securities, Stifel Financial Corp., Wells Fargo & Co. and Jefferies Financial Group are among those certifying that that they don’t run afoul of the new laws, according to letters to the state attorney general compiled by the Municipal Advisory Council of Texas, an industry association. The advisory council posted the letters on its web site.