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Climate Group Sues EPA Over Frozen Billions in Bank Accounts

The article from Newsweek discusses a lawsuit filed by the Center for Biological Diversity against the U.S. Environmental Protection Agency (EPA). The lawsuit claims that the EPA has failed to enforce regulations against banks like JPMorgan Chase, Citibank, Bank of America, and Wells Fargo, which are accused of holding over $1.1 trillion in fossil fuel assets. These assets are said to contribute significantly to climate change, yet the EPA has not taken action to penalize these banks for their investments, which the lawsuit argues violate the Clean Air Act. The Center for Biological Diversity is pushing for the EPA to use its authority to regulate these financial institutions, aiming to reduce the environmental impact of their fossil fuel financing. The lawsuit highlights the EPA's inaction despite the clear link between bank investments and environmental degradation, urging for regulatory measures to align with climate goals.

Read the Full Newsweek Article at:
[ https://www.newsweek.com/climate-group-sues-epa-over-frozen-billions-bank-accounts-2041761 ]