- The April meeting with the JPMorgan CEO took place in New York
- Banks are being examined for their stance on oil and gas
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon met with Texas Attorney General Ken Paxton as the Republican official threatens to bar more banks from helping the state and its local governments sell bonds to raise funds for projects.
Dimon and Paxton met in New York in April, according to a person familiar with the meeting who is not authorized to speak on the matter and asked not to be identified. Staffers in the attorney general’s office have been meeting with several bankers as they examine companies to determine whether they engage in a boycott of the oil and gas industry. Paxton has targeted members of the Net-Zero Banking Alliance, which includes JPMorgan.
“Jamie meets with elected officials all the time, but his message has been consistent on Texas: JPMorgan Chase is committed to the state in the long-term and to helping Texas remain a top energy producer,” a spokesperson for the bank said in a statement. “We make independent business decisions and are not constrained by our memberships to any third-party organizations.”
Bloomberg Green
By Amanda Albright and Danielle Moran
May 13, 2024