Corporate Leadership
Texas Asks Wall Street Firms for Details About DEI Efforts
- Paxton sent letter to banks including JPMorgan and Goldman
- BlackRock also received request for information from state AGs
This article is for subscribers only.
Texas and nine other Republican-led states are ratcheting up pressure on Wall Street’s diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI.
Texas Attorney General Ken Paxton wrote on Thursday to the firms saying they appear to “unlawfully advance discriminatory” diversity, equity and inclusion efforts, and demanded they respond to a series of questions about their programs. He said the companies may have breached their fiduciary duties by pursuing an “ulterior political motive or agenda.”