The Treasury Department is warning that state laws that restrict banks from considering environmental, social and governance factors could harm efforts to address money laundering and terrorism financing.
Maybe that’s the point.
The Treasury Department is warning that state laws that restrict banks from considering environmental, social and governance factors could harm efforts to address money laundering and terrorism financing.
Maybe that’s the point.
Funny how anti-woke is always synonymous with anti-freedom. The government doesn’t approve of your opinions, and therefore must use the force of law to punish you.
The good news is, I wouldn’t expect these laws to survive in the long term. The federal government could easily preempt them since they obviously involve interstate commerce. And I suspect there’s probably some blatant viewpoint discrimination baked into the laws, but that would come down to the specifics of the wording. But even if they are content neutral, I’d argue that they violate the first amendment, which thanks to citizens united would have to be applied to financial institutions too.
And that brings us to the bad news: until congress and/or the courts are no longer held by nutjobs, I wouldn’t expect either to do anything to fix this.