Wells Fargo Says It’s Quitting Climate-Banking Group (2)

Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups.

The company said in a statement Friday that it ended its membership in the Net-Zero Banking Alliance. The bank, based in San Francisco, didn’t provide an explanation for its decision.

Wells Fargo’s departure follows Goldman Sachs Group Inc., which announced earlier this month that it was quitting NZBA. Financial companies have been under increasing pressure from Republican lawmakers, which have launched investigations and filed lawsuits related to the industry’s efforts ...