The Wall Street Journal

Big Banks, Worried About Being Trump’s Next Target, Race to Appease Republicans

Texas and Oklahoma have banned some banks from state contracts, saying they discriminate against the gun and fossil-fuel industries

JPMorgan Chase updated its policy to clarify that it doesn’t discriminate on political grounds.
JPMorgan Chase updated its policy to clarify that it doesn’t discriminate on political grounds. Photo: Janice Chung for WSJ

Big banks are trying to get out of the crosshairs of Republican states that are cracking down on companies for “woke” policies that conservative policymakers say are illegal and discriminatory. 

Representatives from JPMorgan Chase, Citigroup, Wells Fargo and other big banks met in recent weeks with officials in states including Texas and Oklahoma to defend against allegations that they refuse to do business with industries such as gun manufacturing and fossil-fuel extraction, people familiar with the discussions said. 

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