- Paxton’s office is investigating banks’ stance on fossil fuels
- Meetings took place in Austin last month, emails show
The Texas Attorney General’s staff met with municipal finance executives from Wells Fargo & Co. and RBC Capital Markets as Ken Paxton’s probe into whether the Wall Street banks “boycott” the fossil fuels industry drags on.
Bankers from RBC, including Bob Spangler, the New York-based head of municipal finance for the firm, met with Paxton’s staff on Tuesday at the attorney general’s office in Austin, according to emails obtained by Bloomberg News through a public records request.
Earlier in April, Wells Fargo also met with members of the attorney general’s office, other emails between the bank’s employees and Paxton’s staff show. Attendees included Scott Fontenot, senior vice president for state and local government relations at the bank, and Blaine Brunson, a Texas public finance banker. They were joined by the bank’s lawyers.
Bloomberg Green
By Amanda Albright and Danielle Moran
May 1, 2024