Sarah B. Rogers

And the way we got that into court was you had the New York financial regulator, per the pleadings, literally reaching out to financial institutions saying, you know, it would really be better for your enterprise risk management framework if you didn't do business with any pro-gun companies.

And the way we got that into court was you had the New York financial regulator, per the pleadings, literally reaching out to financial institutions saying, you know, it would really be better for your enterprise risk management framework if you didn't do business with any pro-gun companies.

Yeah, so you have all these professionals, and you guys have been in finance, and you know this.

Yeah, so you have all these professionals, and you guys have been in finance, and you know this.

These bureaucracies hired within financial institutions to ensure compliance with all these regulations.

These bureaucracies hired within financial institutions to ensure compliance with all these regulations.

And so they have these elaborate risk management protocols.

And so they have these elaborate risk management protocols.

And this gets a bit into the weeds, but there's this thing in finance called reputational risk.

And this gets a bit into the weeds, but there's this thing in finance called reputational risk.

And that's supposed to be the reputation of a bank for safety, solvency, and soundness.

And that's supposed to be the reputation of a bank for safety, solvency, and soundness.

You don't want to run on the bank.

You don't want to run on the bank.

If everyone thinks the bank might fail, that's bad for the system.

If everyone thinks the bank might fail, that's bad for the system.

But there's this ESG movement to expand the concept of reputational risk to include things like, do you have a reputation for letting naughty, disfavored speakers have bank accounts?

But there's this ESG movement to expand the concept of reputational risk to include things like, do you have a reputation for letting naughty, disfavored speakers have bank accounts?

And that came up in the NRA case.

And that came up in the NRA case.