Author: Jon Dunn
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JPMorgan confirms closing Trump accounts after Jan. 6
JPMorgan Chase acknowledged in a February 2026 court filing that it closed bank accounts of President Trump (R) and several of his businesses in February 2021, following the Jan. 6, 2021, breach of the U.S. Capitol. The bank's former chief administrative officer, Dan Wilkening, wrote in the filing that JPMorgan informed Trump that certain accounts…
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SEC reviews ESG disclosure rule
On Feb. 11, Securities and Exchange Commission (SEC) Chairman Paul Atkins said in testimony before the U.S. House Financial Services Committee that the agency is reviewing regulations adopted during the Biden administration to determine whether those rules should be revised or rescinded. Atkins identified the 2023 amendments to the Investment Company Names rule (Names rule)…
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New York Senate passes $1 billion emissions reporting bill
On Feb. 10, 2026, the New York Senate passed Senate Bill 9072A, the Climate Corporate Data Accountability Act, by a 40–22 vote. The vote fell along party lines, with Democrats in favor and Republicans opposed. The bill would apply to companies that do business in New York and generate more than $1 billion in annual…
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Judge blocks Texas fossil fuel boycott law
A U.S. district court judge last week invalidated Texas Senate Bill 13, a 2021 law restricting state contracts and investments with companies that boycott fossil fuel businesses. U.S. District Judge Alan Albright, of the U.S. District Court for the Western District of Texas, ruled on Feb. 4, 2026, that the law violates the First and…
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Wells Fargo moves proxy voting in-house
On Jan. 29, 2026, Wells Fargo announced that its Wealth & Investment Management division launched a proprietary system to manage proxy voting internally, ending its use of outside proxy advisory services. The firm said it will now direct proxy voting for index funds and other managed products where Wells Fargo invests and votes on behalf…
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JP Morgan Asset Management reduces restrictions on defense investment
JP Morgan Asset Management (JPMAM) lifted defense-related investment exclusions across dozens of its United Kingdom and European funds, according to notices issued to shareholders. The changes allow those funds to invest in a wider range of defense and aerospace companies and apply to 95 Luxembourg-based funds, 29 Ireland-based funds, and five environmental, social, and corporate…
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House passes bill limiting ESG use in retirement plans
On Jan. 15, 2026, the Republican-led U.S. House of Representatives passed the Protecting Prudent Investment of Retirement Savings Act (H.R. 2988) by a 213–205 vote, advancing legislation that would limit when fiduciaries may consider environmental, social, and governance (ESG) factors in employer-sponsored retirement plans governed by the Employee Retirement Income Security Act (ERISA). Rep. Rick…
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ESG-related policy during the first year of the second Trump administration
During the first year of President Donald Trump’s (R) second administration, federal agencies took a series of actions affecting environmental, social and governance (ESG) considerations in financial regulation, labor policy, environmental reporting, and corporate governance. Rather than a single sweeping change, these actions occurred through several mediums including rule withdrawals, enforcement decisions, and shifts in…
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Investor group urges SEC to oppose forced arbitration
On Nov. 6, 2025, the Council of Institutional Investors (CII) sent a letter to Securities and Exchange Commission (SEC) Chairman Paul S. Atkins opposing recent SEC actions related to mandatory arbitration clauses in public company registration statements. Mandatory arbitration provisions can limit investors’ ability to bring claims in court, pursue class actions, or rely on…
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House passes three-year extension of expanded ACA subsidies
On Jan. 8, 2026, the U.S. House of Representatives voted to extend enhanced Affordable Care Act (ACA) subsidies, also known as the expanded premium tax credit (ePTC), for three years. Seventeen Republicans joined Democrats to pass the measure 230–196. The legislation would revive the ePTC, which expired on December 31, 2025. Supporters said the vote…