The Civil War for America's Banks

The ideological fight over America’s banks, simmering since 2020, when Alaska threatened to retaliate over the financial boycott of arctic drilling, has heated up with the recent passage of a West Virginia law that penalizes banks for discriminating against fossil-fuel companies.

Progressives, with the assistance of the Biden administration, have succeeded in pushing JPMorgan Chase, Citibank, Bank of America, Wells Fargo, and other major banks into left-wing activism, shunning industries including oil and gas producers and gun manufacturers, and fighting conservative state laws on issues like abortion. Increasingly, however, red states are joining together to fight back.

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