New York City Withholding Deposits From Banks Over Failure to Submit Anti-Discrimination Plans
- New York City is limiting deposits at Capital One and KeyBank for failing to submit anti-discrimination plans.
- The halt only applies to City agency funds, not residents.
- The actions are a result of new requirements introduced in February to assess banks' commitment to non-discrimination practices.
- Five banks failed to comply with the designation process, including International Finance Bank, PNC Bank, and Wells Fargo.
- Texas and Florida have passed bills penalizing banks for prioritizing Environmental, Social, and Governance (ESG) policies and boycotting energy companies.
The Hill 
Newsweek 
Reuters 
