JPMorgan Chase is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers.

The National Credit Union Administration must extend a program allowing credit unions to offer long-term loans for residential solar power installations.

The state's Department of Financial Services issued proposed guidelines on how banks and mortgage lenders should manage climate-related risks. But the guidance was quickly slammed by a trade group representing community banks.

On issues from guns and abortion to climate change to corporate diversity, banks that have been trying to satisfy progressive groups felt blowback this year from right-leaning organizations and Republican officials.

The companies, which reach thousands of merchants, recently launched environmental programs that use a network effect to cut carbon emissions.

A shareholder group that is pushing the nation's largest banks to conduct racial equity audits criticized JPMorgan Chase's effort, while giving a more favorable review of a Citigroup report. Banks small and large launched racial equity initiatives in 2020 in the wake of protests sparked by the murder of George Floyd.

A carbon-credit transaction network developed by nine banks including Canadian Imperial Bank of Commerce and UBS Group is a step closer to launching early next year after completing a series of pilot trades.

Banks, fintechs and advisors are cautiously pushing investments next year to keep up with industry expectations.

Texas lawmakers pressed finance industry executives they summoned to a remote corner of the state for a hearing Thursday, questioning whether their environmental, social and governance policies are hindering state pension investments.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

HSBC Holdings will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.

The Texas Attorney General's office will decide by Jan. 13 whether Citigroup "discriminates" against the firearms industry, a ruling that will determine the bank's ability to underwrite most municipal bond offerings in the state.

JPMorgan Chase Chief Executive Jamie Dimon praised the results of last month's U.S. midterm elections, saying cooperation in Congress may be more likely since both parties' "wing nuts didn't get elected."

Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren't upended by an evolving set of ESG risks, according to Berkeley Research Group.

Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.

As climate transition evolves in the coming years, banks will be in position to finance a wider range of decarbonization efforts than they have in the recent past, according to a new report from McKinsey.

The Inflation Reduction Act is starting to change the way bankers view their climate targets.

Thomas Montag, once the second-most powerful executive at Bank of America, is returning to Wall Street with the launch of a carbon-credit venture backed by TPG Inc.

BlackRock and UBS Group are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

The Boston bank is engaged in a three-year endeavor to finance $5 billion to meet the credit needs of underserved communities. "This has to be in your DNA because you cannot fake it," CEO Nitin Mhatre said.