American Banker, April 5, 2022, Banks change their tack in navigating the culture war
After years of mounting concern over the politicization of American finance, the banking industry appears to be making a quiet retreat from the culture war trenches.
Not historically known for their social activism, prominent bankers had grown more comfortable taking political stands over the past decade. Since the mid-2010s, banks and their CEOs have waded into several high-profile political fights, ranging from firearm financing to immigration policy and climate change.
But today, as several states pursue laws that will limit or ban medical procedures for women and the transgender community, crack down on classroom discussion of “woke” topics like racism and sexuality, and enact new restrictions of voting rights, few banks or bank advocates have had anything to say.