[LAUREN TAYLOR]

THE U.S. TREASURY DEPARTMENT IS WARNING CERTAIN “ANTI-WOKE” STATE LAWS ARE A NATIONAL SECURITY RISK. 

WAIT – WHAT DO ANY OF THOSE THINGS HAVE TO DO WITH THE OTHER?

IT TURNS OUT… MORE THAN YOU MIGHT THINK.

THE TREASURY DEPARTMENT SAYS STATE LAWS RESTRICTING BANKS FROM CONSIDERING ENVIRONMENTAL, SOCIAL, AND GOVERNANCE FACTORS – COULD NEGATIVELY IMPACT EFFORTS TO STOP MONEY LAUNDERING AND TERRORISM FINANCING. 

ACCORDING TO THE ASSOCIATED PRESS – IN A LETTER SENT TO LAWMAKERS THURSDAY… THE TREASURY SPECIFICALLY POINTED TO A NEW FLORIDA LAW, SIGNED BY REPUBLICAN GOVERNOR RON DESANTIS IN MAY. 

THAT LAW, WHICH JUST WENT INTO EFFECT JULY 1-ST, ADDRESSES CLIMATE CHANGE, DROPPING IT DOWN ON FLORIDA’S LIST OF PRIORITIES. 

THE LAW ALSO STATES IT WOULD BE CONSIDERED “UNSAFE AND UNSOUND PRACTICES” FOR BUSINESSES – LIKE BANKS – TO CONSIDER NON-FINANCIAL FACTORS. 

IN ITS LETTER, THE TREASURY DEPARTMENT SAID “SUCH LAWS CREATE UNCERTAINTY AND MAY INHIBIT” NATIONAL SECURITY EFFORTS. 

WHILE FLORIDA WAS SINGLED OUT – IT’S NOT THE ONLY STATE TO MAKE A MOVE LIKE THIS. 

TENNESSEE RECENTLY ENACTED A SIMILAR LAW… AND STATE LEGISLATURES IN GEORGIA, ARIZONA, IDAHO, INDIANA, IOWA, KENTUCKY, LOUISIANA AND SOUTH DAKOTA ARE CURRENTLY CONSIDERING MEASURE ALONG THESE SAME LINES. 

THE TREASURY’S LETTER WAS A RESPONSE TO A REQUEST EARLIER THIS MONTH FROM REPRESENTATIVES DEMOCRATIC JOSH GOTTHEIMER OF NEW JERSEY AND BRAD SHERMAN OF CALIFORNIA… AND REPUBLICAN MISSOURI REPRESENTATIVE BLAINE LUETKEMEYER.

AFTER GETTING THE LETTER, REPRESENTATIVE GOTTHEIMER ISSUED A STATEMENT SAYING, “TO ANY STATES THAT ARE CONSIDERING SIMILAR LAWS, I URGE THEM TO THINK TWICE BEFORE PUTTING AMERICA’S NATIONAL SECURITY AT RISK.”