Alaska's congressional delegation has asked federal regulators to investigate possible discrimination against Alaska Natives by large banks refusing to fund Arctic oil and gas projects. Lisa Murkowski and Dan Sullivan and Rep. Don Young issued a letter Tuesday saying banks may be discriminating against Alaska Natives who depend on the oil and gas industry for their livelihoods, The Anchorage Daily News reported Wednesday. Five major American banks and several international banks have announced policies since November prohibiting or limiting investment in new oil and gas projects in the Arctic, including the Arctic National Wildlife Refuge. The banks include Citigroup Inc., Wells Fargo & Co., The Goldman Sachs Group Inc., JPMorgan Chase & Co., and Swiss bank UBS. "At best these policies were enacted without due diligence or consultation with Alaska Native communities impacted by development in the Arctic," the letter said.

Source: CBC News June 18, 2020 17:48 UTC