W.Va. Treasurer explains recent financial ban [Video]

PARKERSBURG, W.Va. (WTAP) – Recently, W. Va. Treasurer Riley Moore added more financial institutions to the state ban.

In 2022, a law was passed called the restricted financial institution list.

Based on the law, state government agencies are not allowed to have contracts through institutions on the list.

Recently, Treasurer Moore added four new institutions to that list.

“We found them to be boycotting the fossil fuel industry, so that’s coal, gas, and oil. What we are trying to do is get rid of any conflicts of interest here. If I’m handing our tax dollars that are generated from the coal industry, let’s say, to a financial institution that’s trying to diminish those dollars through environmental and ESG activity, well that doesn’t make any sense for us. So, we aren’t going to subsidize our own destruction and our own industries here in the state of West Virginia, so I am …