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West Virginia threatens to bar big banks, Blackrock over perceived fossil fuel boycotts

Six of the nation’s largest financial institutions, including JPMorgan Chase, BlackRock Inc, and Wells Fargo, may no longer be allowed to do business with the state of West Virginia, after its treasurer warned them they were facing bans over perceived boycotts of the fossil fuel industry. State Treasurer Riley Moore sent letters to the firms, dated June 10, informing each of them they are facing a prohibition on state banking business, after his office determined they were “engaged in a boycott of energy companies” based on public information. Letters were also sent to Morgan Stanley, US Bancorp and Goldman Sachs.

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