Cobol is heavily used in the financial industry for a reason. It's actually excellent for processing financial data at scale and it's well supported. Many of these institutions attempt to swap out parts of these systems with modern languages or runtimes; these projects often fail because they're simply too slow or the new systems crash too often.
I'm not saying it's impossible to do so, just that it's not worth it.
You need to push back hard. If they come at you to arrest you (as a sitting representative), maybe it'll wake people up. You just have to hope they aren't going to barge in at 6 am with machine guns, because historically that doesn't end well for anyone.