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Major U.S. banks continue to finance oil and gas industry, study says

·1 min read
Major U.S. banks continue to finance oil and gas industry, study says
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JPMorgan Chase Citigroup and Bank of America collected the most fees from the oil, gas and coal sectors in the past six years, according to a Bloomberg study released Monday. The news service said these and other major banks have drawn in at least $17 billion in fees and floated about $4 trillion in loans for fossil fuels since the Paris Agreement on climate was reached in 2015. So far in 2021, major banks helped generate $459 billion in bonds and loans for the oil, gas and coal businesses, acco