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Excerpt from www.louderwithcrowder.com
According to the Treasury Department, it’s okay for institutions to engage in anti-conservative banking because laws that mandate fair treatment are supposedly a national security risk, and to say that claim is asinine would be an understatement.
According to AP News:
The Associated Press obtained a copy of the letter sent Thursday to lawmakers. The letter singled out a law signed by Florida Gov. Ron DeSantis in May that says it would be an “unsafe and unsound practice” for banks to consider non-financial factors when doing business. The letter concludes that “such laws create uncertainty and may inhibit” national security efforts.
Conservative Republicans such as DeSantis have sought to block environmental and socially conscious standards for investing, saying that such initiatives can lead to unfair discrimination based on political beliefs and harm legitimate businesses. They say that considering environmental, social and corporate-governance issues, or ESG, before deciding whether to invest is woke behavior gone amok.
DeSantis has said the law being questioned by the Treasury Department would protect the access that conservative groups and the firearms industry have to the financial sector, arguing that such organizations have at times had their accounts frozen or closed.
Several months ago, 15 Republican attorney generals blasted Bank of America for allegedly discriminating against customers based on their religious and/or political beliefs. The Florida law was intended to protect against that, but according to the Treasury Department, it’s a national security risk to be anti-woke.
The Treasury Department letter said that the Florida law could, however, undermine the work of federal agencies, heightening “the risk that international drug traffickers, transnational organized criminals, terrorists, and corrupt foreign officials will use the U.S. financial system to launder money, evade sanctions, and threaten our national security.”
