Texas Muni Borrowers Bemoan Anti-ESG Laws Restricting Banks [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
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Source: BNN Bloomberg
The local officials spoke on a panel Tuesday before a packed room of city representatives, bankers and lawyers at an event hosted by the Bond Buyer in Austin. Several bankers at the conference work at firms that have been ensnared by the laws at various points since they took effect almost three years ago. “I look around the room, I'm seeing a bunch of bankers, lawyers, prospect vendors that want to knock on the door of all the municipalities up here to do business,” said Vernon Lewis, director of the Treasury Department for the city of Houston. The “person that really needs to be in the room is the attorney general and the comptroller.” Lewis said the new rules limited the number of liquidity providers the municipality could work with on its nearly $3 billion commercial-paper program, which it uses for capital-improvement projects. Texas enacted the laws, which target banks for their firearm and energy policies, in September 2021. The measures roiled the state's roughly $50-bi
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Earnings
- 4/12/24 - Beat
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Sec Filings
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- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- C's page on the SEC website