Iowa Attorney General Brenna Bird led a coalition of Republican state attorneys general opposing the Treasury Department’s opposition to state laws restricting banks from considering some factors when investing. (Photo by Robin Opsahl/Iowa Capital Dispatch)
Iowa Attorney General Brenna Bird led a coalition of attorneys general in a letter responding to the U.S. Treasury Department’s opposition to state laws that restrict banks from considering social or environmental factors when investing.
The Treasury Department’s letter, obtained by The Associated Press , warned that these banking laws could hurt national security efforts to counter money laundering and terrorism financing.
Bird’s letter , which was sent directly to Treasury Department Secretary Janet Yellen and signed by 20 Republican state attorneys general, dismissed those concerns and accused the department of trying to stoke opposition to these laws.
“All of us oppose this latest attempt by the Biden-Harris Administration to fearmonger and stoke confusion about state laws to advance activists’ extreme agendas,” the letter reads.