Investments

Bank of America and Citigroup, the top two underwriters in the $3.9 trillion municipal bond market, are at risk of getting shut out of Texas because of a push by Republican state lawmakers to punish the banks for their restrictive gun policies.

The greenhouse gas emissions associated with financial institutions’ investing, lending and underwriting activities are more than 700 times higher, on average, than their direct emissions, a report concludes.

CEO John Turner said green projects present a strong business opportunity for the Birmingham, Ala., company.

The fintech Fair isn’t using terms like “sharia” or “Islam” in its messaging, but it is offering interest-free loans and socially responsible investments that comply with Islamic rules.

Under the leadership of former Chief Risk Officer John D'Angelo, the new environmental, social and governance office will oversee the bank's sustainability and corporate social responsibility functions.

From Coinbase and Grab to Affirm, technology companies are expanding their payments operations — and picking up billions of dollars in public listings.

Municipal bonds have a direct effect on the social and cultural character of cities, metropolitan areas, counties, and states. Munis and the initiatives they support such as public education, housing subsidies, public transit systems, and more, can often be linked to local or regional politics. Join Lynne Funk, Executive Editor at The Bond Buyer and Destin Jenkins, Neubauer Family Assistant Professor of History at the University of Chicago as they explore how municipal bond mismanagement can have contrasting influences on the different ethnic groups in our cities.

Called by House and Senate Democrats, the hearings with the heads of the nation's six largest banks will take place over two days and will likely examine the industry's response to the pandemic and efforts to address climate change and racial equity.

JPMorgan Chase set a goal to finance $2.5 trillion in initiatives that combat climate change and advance sustainable development over the next 10 years, while Citigroup said it would back $1 trillion of similar efforts by 2030.

Retail investors revolted against institutional investors by buying heavily shorted stocks in January, reanimating regulatory concerns about short selling and market manipulation. But is shorting a check on speculation, or a driver of it?