(PatrioticPost.com)- More than 18 state attorney generals are investigating six banks for allegedly violating consumer protection law after aligning themselves with a United Nations coalition to reduce carbon emissions, according to Daily Caller.
Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo are members of the UN Net Zero Banking Alliance (NZBA), which is a coalition that agrees to “align greenhouse gas emissions in their lending and investment portfolios toward achieving net-zero emissions by 2050,” according to the outlet.
Texas Attorney General Ken Paxton has revealed that the multi-state investigation is looking into whether the banks have violated consumer protection law as part of the coalition.
“NZBA is an agreement between major banking institutions to support the climate agenda by choosing not to work with companies engaged in fossil fuel-related activities,” Arizona’s Mike Brnovich said. “This means some farmers, oil leasing companies, and other businesses will be unable to get a loan because of the alliance.”
The NZBA, based on the Paris Agreement, boasts of its 119 members and 41 countries and accounts for 39% of the world’s banking assets. Paxton calls the coalition a war by the “radical climate change movement” against American energy.
“The last thing Americans need right now are corporate activists helping the left bankrupt our fossil fuel industry,” Paxton argued. “If the largest banks in the world think they can get away with lying to consumers or taking any other illegal action designed to target a vital American industry like energy, they’re dead wrong. This investigation is just getting started, and we won’t stop until we get to the truth.”
The investigation is the third recent investigation into the banks for alleged “deceptive trade practices tied to Environmental, Social, and Governance (“ESG”) related actions,” according to Paxton’s press release.