Representatives from JPMorgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), and other large banks have recently met with officials in Republican states, including Texas and Oklahoma, to defend against allegations they refuse to do business with industries such as gun manufacturing and fossil-fuel extraction, Alexander Saeedy, AnnaMaria Andriotis, and Dylan Tokar of The Wall Street Journal reports, citing people familiar with the discussions. Additionally, the banks are worried that President Trump could turn the federal government against them, with some people familiar with the matter stating the Trump administration is considering an executive order on “debanking.” Other publicly traded companies in the space include Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), and U.S. Bancorp (USB).
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