Edited release
12/05/23
Iowa Attorney General Brenna Bird has led a coalition of 23 states in a letter to International Shareholder Services (“ISS”) and Glass Lewis. The letter urges the companies to follow the law and quit recommending woke investment strategies that jeopardize millions of Americans’ retirement security.
According to a release from the AG’s office, ISS and Glass Lewis decided that big banks do not have to disclose why they close someone’s bank account. This decision has allowed banks to target those they disagree with, such as guns rights groups, religious groups, and conservative individuals. The States wrote to ISS and Glass Lewis addressing concerns with their making recommendations based on woke politics, rather than focusing on transparency and Americans receiving the best returns on their investments.
Bird’s statement reads, “Woke Wall Street is sabotaging businesses and gambling millions of Americans’ retirement savings. But not on my watch. We’re calling out Woke Wall Street and demanding they follow the law. Iowans spend a lifetime saving up for retirement and building their businesses. Their livelihoods shouldn’t be jeopardized, or their bank accounts targeted, for the sake of someone else’s woke political agenda.”
The States are demanding that ISS and Glass Lewis endorse transparency, make voting recommendations free of fake or misleading information, and uphold their legal duties.
Iowa led the letter joined by Alabama, Alaska, Arkansas, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Carolina, Texas, Utah, Virginia, West Virginia, and Wyoming.