Lawsuits challenging the Biden administration’s new regulation allowing socially conscious retirement investing are invalid because they hinge on fundamental misunderstandings of the policy, according to a former senior Treasury official.
Mark Iwry, a Brookings Institution fellow and Obama-era deputy assistant Treasury secretary, filed identical amicus briefs Wednesday in the Texas and Wisconsin federal courts where the US Labor Department is defending its new rule. More than two dozen red-state attorneys general, as well as energy firms and retirement plan participants, claim the ESG rule threatens workers’ savings.
Environmental, social, and corporate governance investment criteria can be relevant to a ...
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