climate change

JPMorgan rejects calls to disclose lending’s impact on climate

02/12/20

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.

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

02/11/20

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.”

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Climate activists want former Exxon chief off JPMorgan's board

02/10/20

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.

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

02/03/20

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

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Fed chief endorses Brainard's critique of CRA plan

01/29/20

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.

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

01/23/20

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

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Warren presses big-bank CEOs on climate change policies

01/22/20

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.

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

01/22/20

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.

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What's pushing U.S. banks deeper into ESG

01/13/20

Stateside banks are starting to play catch-up to banks worldwide that are incorporating environmental, social and governance factors into their underwriting. Pressure from big shareholders is a driving force.

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Goldman’s small reveal on consumer unit; Warren proposes bankruptcy reform

01/08/20

Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt.

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