The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout.
Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.
Citi, Goldman chiefs say they won’t be pressured to stop financing companies based on carbon footprint; Vodafone bolts from Facebook’s digital currency project.
For small regionals like Atlantic Union and F.N.B., the biggest opportunity to snag customers will come when the rebranding of BB&T and SunTrust branches begins next year.
