CHARLESTON, W.Va. — State Treasurer Larry Pack announced Wednesday that he has added Santander Bank to the West Virginia Treasury’s Restricted Financial Institution (RFI) List, citing the institution's alleged engagement in boycotts of fossil fuel companies as defined by state law.

The determination was made after a review of Santander Bank's environmental, social, and governance (ESG) policies and other publicly available statements. Under the 2022 state law (Senate Bill 262), any institution placed on the RFI list is ineligible to provide banking services to the State of West Virginia.

“With the election of President Donald Trump, we have seen financial institutions abandon language used by the ESG movement,” Treasurer Pack said. “As much as we applaud this effort, actions speak louder

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