The Wall Street Journal, May 4, 2024, Texas Ban On ‘Woke’ Banks Opens Door For Smaller Firms
The clash over environmental, social and corporate-governance investing follows state restrictions passed in 2021 on government business with financial firms perceived as taking a stand against firearms or fossil fuels. Wall Street heavyweights such as Bank of America and Wells Fargo have pulled back in Texas, even as the state’s growth has made it the nation’s top issuer of state and local debt, with $42 billion last year.
