Financial institutions say they serve their clients’ best interests. But when the curtain is pulled back and we cite corporate charters, bylaws as well as federal and state laws, actions point to their authentic intentions: Shareholders’ interests legally come first, outranking client and employee interests. The rise of ESG and stakeholder governance are disingenuous gimmicks at best and corporate malfeasance at worst: Three recent court cases/ settlements validate this claim: Craig v Target (2024), American Airlines and BlackRock ESG Investment Case (2025) and BlackRock and Tennessee ESG Settlement (2025).
Alas, when an insurance company, bank or Wall St. firm claims to put your interests first, the only time they’re being honest is when you own their stock. Period.
