US Treasury Department Warning to You
The U.S. Treasury Department issued a warning regarding Florida’s anti-“woke” banking law, stating that it poses a national security risk. Here are the key points about this official warning:
- The Treasury Department sent a letter to lawmakers expressing concern that state laws restricting banks from considering environmental, social, and governance (ESG) factors could hamper efforts to combat money laundering and terrorism financing[3][6][9].
- The letter specifically singled out a law signed by Florida Governor Ron DeSantis in May 2024. This law declares it an “unsafe and unsound practice” for banks to consider non-financial factors when conducting business[3][11][14].
- The Treasury Department warned that such laws “create uncertainty and may inhibit” national security efforts[14].
- The department expressed concern that these restrictions could undermine the work of federal agencies, potentially increasing “the risk that international drug traffickers, transnational organized criminals, terrorists, and corrupt foreign officials will use the U.S. financial system to launder money, evade sanctions, and threaten our national security”[14].
- This warning was issued in response to a request from Representatives Josh Gottheimer (D-N.J.), Blaine Luetkemeyer (R-Mo.), and Brad Sherman (D-Calif.)[14].
- The Treasury Department’s letter aims to caution other states considering similar legislation about the potential risks to national security[14][15]
Anti-DEI Laws Threaten Woke Treasury Department
It’s important to note that while this warning specifically addresses the anti-“woke” banking law, it is part of a broader context of legislation in Florida targeting diversity, equity, and inclusion (DEI) initiatives. However, the Treasury Department’s warning focuses on the potential national security implications of the banking law rather than directly addressing the state’s anti-DEI measures in education and other sectors.
Citations:
[1] https://www.npr.org/2023/05/15/1176210007/florida-ron-desantis-dei-ban-diversity
[2] https://www.nbcnews.com/news/latino/desantis-anti-dei-education-law-chilling-effect-florida-rcna85646
[3] https://apnews.com/article/banking-esg-treasury-national-security-00984615e57dc14d72f04e6e61cc078b
[4] https://abcnews.go.com/US/florida-prohibits-dei-public-colleges-amid-stop-woke/story?id=106462562
[5] https://www.afslaw.com/perspectives/alerts/educated-guess-anti-dei-legislation-raises-legal-and-practical-concerns
[6] https://www.newspressnow.com/news/regional_news/kansas/treasury-warns-that-anti-woke-banking-laws-such-as-those-in-florida-are-national-security/article_23d01c9d-1dec-51fc-9d3b-3b07ed0240fb.html?mode=nowapp
[7] https://eu.tallahassee.com/story/news/politics/2023/05/21/desantis-policies-undemocratic-and-hostile-to-black-americans-says-naacp/70240494007/
[8] https://www.greenwichtime.com/business/article/the-treasury-department-warns-that-an-anti-woke-19583816.php
[9] https://www.newwestrecord.ca/environment-news/treasury-warns-that-anti-woke-banking-laws-like-floridas-are-a-national-security-risk-9241623
[10] https://www.essence.com/news/florida-banning-dei-public-colleges-desantis/
[11] https://www.washingtonpost.com/business/2024/07/19/banking-esg-treasury-national-security/f7cb9218-45ce-11ef-83d0-9eaefdc988e8_story.html
[12] https://www.airdriecityview.com/environment-news/treasury-warns-that-anti-woke-banking-laws-like-floridas-are-a-national-security-risk-9241623
[13] https://abcnews.go.com/US/florida-board-governors–state-funding-dei-initiatives/story?id=106634715
[14] https://www.orlandosentinel.com/2024/07/19/florida-anti-woke-banking-law/
[15] https://theubj.com/webstories/treasury-warns-anti-woke-banking-laws-like-floridas-pose-national-security-risk/
[16] https://www.cnn.com/2024/03/01/us/university-florida-shutters-dei-office-reaj/index.html