The Texas Attorney General will end reviews of Bank of America, Morgan Stanley and JP Morgan after the banks recently left the Net-Zero Banking Alliance.

BofA and Morgan Stanley left the Net-Zero Banking Alliance, but there was no word from the Texas attorney general on their status as bond underwriters in the state.

RBC ramped up business to land at second place and Jefferies rose to third while Raymond James entered the top 10, knocking Barclays to 11th. Citi, which exited the business, closed at sixth place.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

Bank of America, JPMorgan, Goldman Sachs, Citigroup, UBS, Morgan Stanley, RBC, and Santander are defendants.

Texas moved closer to enacting a law that would ban government work with Wall Street banks whose policies restrict the firearms industry, marking a pushback from Republicans in the gun-friendly state against corporations taking sides in America’s political fights.

Bank of America and Citigroup, the top two underwriters in the $3.9 trillion municipal bond market, are at risk of getting shut out of Texas because of a push by Republican state lawmakers to punish the banks for their restrictive gun policies.

The top municipal bond underwriters of the first quarter of 2021 are well ahead of last year's record pace, as the country is starting to finally see the light at the end of the COVID-19 pandemic tunnel.

Municipal bond underwriters are on pace to easily surpass last year's total, despite the COVID-19 pandemic. Top bookrunners have accounted for a total of $328.60 billion through the first three quarters of the year, up from the $267.91 billion in the first nine months of 2019. The top five saw small changes compared to a year ago, while spots six through 10 saw more of a mix.