Investments

West Virginia Treasurer Riley Moore, who's put banks on a blacklist for their support of ESG policies, is up for (and very likely to win) one of the state's two seats in the U.S. House. Here's how he got there, and what it'll look like when he tries to bring his anti-ESG policies national.

The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn't include BMO.

It's a substance that literally grows on trees, and is just as compostable. But like any other proposed alternative to first-use plastic, wood comes at a premium to any issuers that want to adopt it.

The two megabanks have agreed to release a ratio that measures their level of financing for low-carbon energy versus fossil fuels. The banks' moves follow pressure regarding climate change from entities associated with New York City's local government.

Orders on the NASDAQ exchange were unable to execute early Monday morning because of an error with the exchange's price discovery tool. The error has since been resolved.

The stock prices of five of these banks fell by more than 7% on the day they announced their fourth-quarter results, including two with double-digit decreases.

Contenders see plenty of room for the market of EFTS investing in CLOs to grow. The question is if they can potentially usurp some of banks' dominance in AAA-tranche investing.

Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.