A coalition of 23 Republican AGs sent a letter to Fitch Ratings, Moody’s Investors Service, and S&P Global Ratings questioning whether the credit rating agencies’ ESG policies violate federal securities laws, state consumer protection laws, and antitrust laws. In the letter, the AGs allege that the ratings agencies downgraded fossil-fuel companies and sectors based on…

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In Law360, Keturah Taylor, Brett Watson, and Maryam Arshad discuss what the new era of state-led enforcement means for financial institutions, fintech companies, and other consumer finance providers and why they must adapt their compliance and regulatory response strategies.

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Florida AG James Uthmeier issued a policy memo to some law firms in Florida informing them that his office will no longer retain outside counsel that engages in diversity, equity and inclusion (DEI) or environmental, social and governance (ESG) practices. The memo outlines the activities that would presumptively disqualify a law firm from being retained,…

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Florida AG James Uthmeier announced that his office is investigating CDP (formerly the Carbon Disclosure Project) and the Science Based Targets Initiative for potential violations of Florida’s consumer protection and antitrust laws. CDP operates a global environmental disclosure system for companies, capital markets, cities, states, and regions to report and manage their environmental impacts. SBTi,…

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Missouri AG Andrew Bailey announced that his office is investigating and has filed parallel lawsuits against Glass, Lewis & Co. and Institutional Shareholder Services, two major corporate proxy advising firms, for alleged violations of state consumer protection laws. According to the filings against Glass, Lewis and ISS, the firms may have presented themselves as neutral…

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