Washington wants to force banks to finance arms and oil

The giants of Wall Street fear they will not succeed in blocking a text aimed at forcing banks to finance the arms and oil industry.

One of the main supervisors of US banks, the OCC, wants to force banks to finance the arms industry and fossil fuels.

The alert level has gone up a notch on Wall Street. One of the main banking regulators in the United States, the Office of the Comptroller of the currency (OCC), wants to force American banks to finance the gun industry, prisons and fossil fuels even when they refuse to do so. A decision pushed by the Trump administration before his departure from the White House.

Monday ended the consultation period, which sparked hundreds of reactions within a timeframe deemed too short by the banks for them to be able, they fear, to drop the text of the regulator appointed at the end of November by the outgoing president.