Texas Launches New Review of Big Banks Over Energy Policies (4)

Texas Attorney General Ken Paxton’s office said it’s reviewing whether 10 financial companies, including Bank of America Corp. and JPMorgan Chase & Co., violate a Republican-backed state law that punishes firms for restricting their work with the oil and gas industry because of climate change concerns.

The probe pertains to companies that are members of groups seeking to reduce greenhouse gas emissions, the office said in a letter to bond lawyers on Tuesday. The office announced that it was reviewing companies that are members or affiliate members of the Net Zero Banking Alliance, Net Zero Insurance Alliance, Net Zero ...