“Republican lawmakers, who will be in the House majority come January, are pressing party leaders to send a message to big financial firms: Stop appeasing the left with ‘woke’ business practices, keep financing fossil fuels and cut ties with China. Republicans will have committee gavels and subpoena powers to back that up,” Politico reports.
“GOP lawmakers are singling out major asset managers and their Washington trade groups as targets because of climate investing practices they see as hostile to oil, gas and coal. Some Republicans want to continue hauling in big bank CEOs to publicly testify — a tradition established by liberal Democrats. GOP senators are already demanding that law firms preserve documents related to how they advise clients on environmental and social initiatives, signaling a potential investigation. Wall Street firms and Washington lobbyists are preparing for subpoenas.”
