(Bloomberg) -The Texas and nine other Republicans-led provinces are in line with the Wall Street diversity programs, asking companies for their policies on hiring and selecting suppliers as Trump's administration moves to the gut of Dei.
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Texas Attorney General Ken Paxton wrote on Thursday to the companies saying they appear to be “moving forward” of diversity, equity and inclusion, and insisted that they respond to a series of questions about their programs. He said the companies could have broken their trusty duties by following a “political motive or wound agenda.”
The letter was sent to Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Blackrock Inc. money manager
“You seem to have embraced racial and gender quotas and made business and investment decisions based not on making the most of shareholder and asset value, but in promoting political agendas,” Paxton said in a letter received by Bloomberg.
Paxton gave companies 45 days to respond to the questions. “Before pursuing a legal case, we extend the opportunity for all of you to avoid a long enforcement cause,” he wrote.
The banks and Blackrock did not respond immediately to requests for comments.
The letter comes after Trump, in his second day in office, ordered federal contractors to confirm that they are not “involved in illegal discrimination, including an illegal dei.” Government agencies directed to produce a list of publicly traded companies for potential compliance crime investigations.
CEO of JPMorgan and Goldman Sachs said on Wednesday that they will continue to focus on efforts to promote Dei in their workforces and customer foundations. “We are going to continue to reach out to the black community, the Hispanic community, the LGBT community, the former Veterans community,” said Jamie Dimon of JPMorgan.
The General Attorneys referred to promises and goals made and set by finance companies since 2021 to strengthen the hiring of women and minorities. For example, Jpmorgan promised to hire 4,000 UK students by 2024 and Goldman set a goal of spending more than $ 1 billion on various sellers.
Corporate America increased its diversity efforts from the Metoo Movement and 2020 Death George Floyd which fired unrest across the country.