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Republicans say Trump should act against financial institutions that are unwilling to fund certain fossil fuel projects

Republicans say Trump should act against financial institutions that are unwilling to fund certain fossil fuel projects
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A group of nearly 40 Republican lawmakers on Friday urged the Trump administration to take actions against financial institutions that have shied away from financing certain fossil fuel projects. 

In a letter to the White House, they claimed that policies against financing fossil fuel projects were discriminatory. 

“We urge you and your Administration to use every administrative and regulatory tool at your disposal to prevent America’s financial institutions from discriminating against America’s energy sector while they simultaneously enjoy the benefits of federal government programs,” said the letter, which was led by Sens. Dan SullivanDaniel Scott SullivanThe Hill's Morning Report - Presented by The AIDS Institute - Finger-pointing on Capitol riot; GOP balks at Biden relief plan Sanders votes against Biden USDA nominee Vilsack Senate confirms Vilsack as Agriculture secretary MORE (R-Alaska) and Kevin CramerKevin John CramerOn The Money: Manhattan DA obtains Trump tax returns | Biden nominee previews post-Trump trade agenda | Biden faces first setback as Tanden teeters OVERNIGHT ENERGY: Senate confirms former Michigan governor Granholm as Energy secretary | GOP bill would codify Trump rule on financing for fossil fuels, guns | Kennedy apologizes for calling Haaland a 'whack job' GOP bill would codify Trump rule on financing for fossil fuels, guns MORE (R-N.D.). 

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“Wall Street’s big banks, for example, should not be able to reap the benefits of participating in federally guaranteed loan programs laid out in the CARES Act, such as the Paycheck Protection Program or the trillion dollar ... Federal Reserve facility lending programs, while simultaneously targeting American energy companies and workers, which again will be critical to our nation’s economic recovery,” they added. 

President TrumpDonald TrumpDonald Trump Jr. calls Bruce Springsteen's dropped charges 'liberal privilege' Schiff sees challenges for intel committee, community in Trump's shadow McConnell says he'd back Trump as 2024 GOP nominee MORE has previously criticized the banks for withholding funds from certain fossil fuel projects. 

After Sullivan, in an Oval Office appearance last month, accused banks of “starting to discriminate against American energy companies” and trying to “discriminate against investment in my state in Alaska,” Trump replied “I don’t like that.”

“I like the idea of looking into that," Trump replied, adding that the banks were "pushed by the radical left."

Banks and other institutions have cited investment risk and social responsibility as they have backed away from financing such projects.