The Trump administration ordered Citibank to freeze a $20 billion slash fund for the pop-up climate group provided by then-Duck President Joe Biden's Environmental Protection Agency, according to a court application Wednesday.
Citibank's lawyers revealed in federal court that the financial institutions had “instructed the EPA and the Treasury Department to “suspend all further spending” from the Biden-era Greenhouse Gas Reduction Fund.
Billions of dollars have opened doors in the final months of President 46th's tenure, but have been parked in banks since President Trump took office.
The Trump administration has revealed that the Greenhouse Fund is “the subject of an ongoing criminal investigation” and has been asked by the FBI to freeze spending for at least 30 days for “reliable information” about “possible criminal violations,” according to lawyers.
“Citibank only wants to fulfill its contractual obligations. Citibank will continue those efforts and, of course, will follow the orders of the court,” the attorney wrote in the DC US District Court.
