The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.

The Republican ESG bill calls for studies on key muni market issues, including bans on soliciting business, ESG disclosure and investment decisions by underfunded state and local pension plans.

The departure of four attorneys marks the second group exodus in Texas this year for Orrick.

The measure would have prevented state and local public entities from requiring a company to implement an ESG policy to get a government contract.

Easing drought conditions are not stopping states from restricting water use and investing in future supplies.

The bill moved through votes in the Republican-controlled state legislature and onto the desk of a supportive Gov. Kay Ivey in just under a month.

Additionally, state Treasurer Dale Folwell endorsed an anti-ESG bill in the state legislature.

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The Biden Administration has partnered with five cities and the State of California in efforts to reduce homelessness.

The staying power of these laws will depend on a number of factors, including the willingness of states to accept increased borrowing costs or whether to utilize the laws' existing exceptions to obtain a more economically advantageous deal.

The investor-driven committee created guidelines to help small- and medium-sized issuers provide more uniform disclosure.

The bill would bar the state from doing business with companies that apply ESG to investment decisions and/or "boycott" favored industries.

Attorneys general from 16 states filed an amicus brief supporting Oakland and San Francisco's climate change lawsuit against oil companies.

UBS will compensate a Texas school district, which was forced to resell bonds after the state attorney general rejected the investment bank's contract to purchase the debt.

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

"This recent escalation of the Disney-DeSantis fight is unnerving, but it doesn't make that fight any more consequential for the municipal market," said Justin Marlowe of the University of Chicago.

The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.

The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.