SLS 22RS-4566 ORIGINAL
2022 Regular Session
SENATE RESOLUTION NO. 223
BY SENATOR FESI
FINANCIAL INSTITUTIONS. Memorializes the Congress of the United States and
requests certain federal and state entities to refrain from enacting or adopting laws, rules,
regulations, or guidance that restricts the ability of financial institutions from offering
products or services to the fossil fuel industry.
1 A RESOLUTION
2 To memorialize the Congress of the United States and to urge and request the Federal
3 Reserve Board, the office of the comptroller of the currency, the Federal Deposit
4 Insurance Corporation, the Consumer Financial Protection Bureau, the National
5 Credit Union Administration, and the office of financial institutions to refrain from
6 enacting or adopting laws, rules, regulations, or guidance that restricts the ability of
7 banks, savings and loan associations, savings banks, credit unions, trust companies,
8 or payment processors to offer products or services to the fossil fuel industry.
9 WHEREAS, the fossil fuel industry contributes to the economy of the state and to
10 the prosperity of its citizens; and
11 WHEREAS, the fossil fuel industry produces consumer-ready resources, continues
12 to create thousands of jobs for our workforce, and remains committed to the safety of our
13 communities and the preservation of the environment; and
14 WHEREAS, in recent years the fossil fuel industry has been unfairly denied
15 financing by large lenders; and
16 WHEREAS, several of the largest United States banks, Citigroup Inc., Goldman
17 Sachs Group Inc., and Morgan Stanley, have pledged over the past year to end funding for
18 new drilling and exploration projects; and
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SLS 22RS-4566 ORIGINAL
1 WHEREAS, in order to be successful in the fossil fuel industry, businesses rely on
2 banks, credit unions, and other financial institutions for funding.
3 THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
4 memorializes the Congress of the United States and urges and requests the Federal Reserve
5 Board, the office of the comptroller of the currency, the Federal Deposit Insurance
6 Corporation, the Consumer Financial Protection Bureau, the National Credit Union
7 Administration, and the office of financial institutions to refrain from enacting rules or
8 regulations that restrict the ability of banks, savings and loan associations, savings banks,
9 credit unions, trust companies, or payment processors to offer products or services to the
10 fossil fuel industry.
11 BE IT FURTHER RESOLVED that a copy of this Resolution shall be transmitted
12 to the secretary of the United States Senate and the clerk of the United States House of
13 Representatives, each member of the Louisiana delegation to the United States Congress, the
14 chairman of the Federal Reserve Board, the acting comptroller of the currency, the chairman
15 of the board of directors of the Federal Deposit Insurance Corporation, the director of the
16 Consumer Financial Protection Bureau, the National Credit Union Administration Board,
17 and the commissioner of the office of financial institutions.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Yoursheka Butler.
DIGEST
SR 223 Original 2022 Regular Session Fesi
Memorializes the U. S. Congress and requests certain federal and state entities 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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