Banking

ALEC board turns down design anti-ESG expense

The American Legislative Exchange Council’s board recently declined a proposed design expense that would have needed states to stop working with business thought about to be boycotting nonrenewable fuel sources and other associated markets. Following a closed-door vote, ALEC sent out the design expense back to the group’s energy job force for extra evaluation.

The vote occurred following advocacy by the American Bankers Association, state lenders associations and others versus the proposition as prepared. “ABA and other concerned stakeholders urged ALEC to reconsider this draft model policy because it undermined the organization’s own commitment to free markets and limited government,” ABA stated in media reports following the vote. “Government should not be dictating business decisions to the private sector, which is what the draft model policy proposed. We appreciate the strong vote by the ALEC board to send this proposal back to the task force for reconsideration.”

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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