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.
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.
Tldr: People were concerned that banks which are critical to most institutions could decide to deny service to those they disfavoured resulting in certain groups effectively being practically outlawed by a collective of private banks.