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While everyone was watching James B. Comey's testimony in the Senate on Thursday, the other side of the Capitol was more quietly (but also consequentially) passing a piece of legislation that would have far-reaching financial implications if it becomes law.
The bill is called the Financial Choice Act, and it passed the GOP-led House in a 233-to-186 party-line vote. The legislation is designed to dismantle much of the 2010 Dodd-Frank law signed by President Obama and passed by a Democrat-controlled Congress in the wake of the financial crisis.
Among the many implications of the bill were it to become law (and there are many; you can read about them in my colleague Tory Newmyer's edition of The Finance 202 today) is an overhaul of the process by which stockholders can file and pass shareholder resolutions that ask corporations to change policies. Of concern for us at The Energy 202: About 175 of the roughly 1,000 shareholder resolutions submitted to companies in 2016 concerned corporate climate-change policy.
Read more https://www.washingtonpost.com/news...9899be9b69b2fb981dcb1/?utm_term=.36448233979f
The bill is called the Financial Choice Act, and it passed the GOP-led House in a 233-to-186 party-line vote. The legislation is designed to dismantle much of the 2010 Dodd-Frank law signed by President Obama and passed by a Democrat-controlled Congress in the wake of the financial crisis.
Among the many implications of the bill were it to become law (and there are many; you can read about them in my colleague Tory Newmyer's edition of The Finance 202 today) is an overhaul of the process by which stockholders can file and pass shareholder resolutions that ask corporations to change policies. Of concern for us at The Energy 202: About 175 of the roughly 1,000 shareholder resolutions submitted to companies in 2016 concerned corporate climate-change policy.
Read more https://www.washingtonpost.com/news...9899be9b69b2fb981dcb1/?utm_term=.36448233979f
