2022 Regular Session ENROLLED
SENATE RESOLUTION NO. 203
BY SENATOR FESI
A RESOLUTION
To memorialize the Congress of the United States and to urge and request the Federal
Reserve Board, the office of the comptroller of the currency, the Federal Deposit
Insurance Corporation, the Consumer Financial Protection Bureau, the National
Credit Union Administration, and the office of financial institutions to refrain from
enacting or adopting laws, rules, regulations, or guidance that restricts the ability of
banks, savings and loan associations, savings banks, credit unions, trust companies,
or payment processors from offering products or services to the fossil fuel industry.
WHEREAS, the fossil fuel industry contributes to the economy of the state and to
the prosperity of its citizens; and
WHEREAS, the fossil fuel industry produces consumer-ready resources, continues
to create thousands of jobs for our workforce, and remains committed to the safety of our
communities and the preservation of the environment; and
WHEREAS, in recent years the fossil fuel industry has been unfairly denied
financing by large lenders; and
WHEREAS, four of the six largest United States banks, Citigroup Inc., Goldman
Sachs Group Inc., Morgan Stanley, and Wells Fargo and Company, have pledged over the
past year to end funding for new drilling and exploration projects; and
WHEREAS, in order to be successful in the fossil fuel industry, businesses rely on
banks, credit unions, and other financial institutions for funding.
THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
memorializes the Congress of the United States and urges and requests the Federal Reserve
Board, the office of the comptroller of the currency, the Federal Deposit Insurance
Corporation, the Consumer Financial Protection Bureau, the National Credit Union
Administration, and the office of financial institutions to refrain from enacting rules or
regulations that restrict the ability of banks, savings and loan associations, savings banks,
credit unions, trust companies, or payment processors from offering products or services to
the fossil fuel industry.
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BE IT FURTHER RESOLVED that a copy of this Resolution shall be transmitted
to the secretary of the United States Senate and the clerk of the United States House of
Representatives, each member of the Louisiana delegation to the United States Congress, the
chairman of the Federal Reserve Board, the acting comptroller of the currency of the office
of the comptroller of the currency, the chairman of the board of directors of the Federal
Deposit Insurance Corporation, the director of the Consumer Financial Protection Bureau,
the National Credit Union Administration Board, and the commissioner of the office of
financial institutions.
PRESIDENT OF THE SENATE
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