climate change

Wells may be poised to settle; Dissecting Morgan Stanley, E-Trade deal


The bank could announce as early as Friday a deal on charges it wronged customers; the acquisition allows Morgan Stanley to compete in retail banking.


Banks urged to follow Goldman’s lead on fossil fuel


Goldman Sachs pledged in late 2019 to stop financing projects in coal and Arctic oil exploration. Activist groups and Democratic senators say other large institutions should do the same given the economic and environmental risks from climate change.


JPMorgan rejects calls to disclose lending’s impact on climate


Activist investors say the lender's words on combating climate change have not matched its actions. But the company argues that requests to put climate resolutions to a shareholder vote amounts to micromanagement.


House lawmakers press Powell on CRA, climate change, stress tests


Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate change.”


Climate activists want former Exxon chief off JPMorgan's board


Few people are in a position to influence Jamie Dimon, the chief executive who turned JPMorgan Chase into the biggest U.S. bank. The longtime climate skeptic who turned Exxon Mobil into the biggest U.S. oil company is one of them.


Senate Dems want answers on how GSEs are preparing for climate change


In letters to Freddie Mac and Fannie Mae, six Democrats asked how the mortgage giants are factoring extreme weather into their risk modeling.


Fed chief endorses Brainard's critique of CRA plan


Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC.


Will climate change spur crisis?; OCC, FDIC go it alone on CRA overhaul


Bank for International Settlements report says central banks don't have tools to handle climate change; banks could face different CRA rules.


Warren presses big-bank CEOs on climate change policies


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.


Bank CEOs push back on climate proposals; another company leaves Libra


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.