Goldman Sachs Pulling Back on TX Business Over Gun Law

Goldman Sachs Pulling Back on TX Business Over Gun Law


Goldman Sachs Group is pulling back on municipal bond investments in Texas following the state’s adoption of a law that bars state and local governments from working with banks that discriminate against firearms/ammunition manufacturers.

The law is contained in Senate Bill 19. In the Spring of 2021, when SB19 was being considered, the Dallas Morning News reported that it requires financial companies “with 10 employees or more seeking a government contract worth at least $100,000 would have to verify in writing that they do not have a policy or directive that “discriminates” against the firearms or ammunition industries.”

Bill sponsor Sen. Charles Schwertner (R) said, “Any company that uses financial pressure in order to limit Texans’ ability to purchase guns or ammunition should not be

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