# 119-hr-7246: Addressing Climate Financial Risk Act of 2026

119-hr-7246, Addressing Climate Financial Risk Act of 2026, is a 119th Congress bill sponsored by Rep. Casten, Sean [D-IL-6] (D-IL); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7246
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7246
- Congress: 119
- Title: Addressing Climate Financial Risk Act of 2026
- Status: introduced
- Introduced: 2026-01-27
- Sponsor: Rep. Casten, Sean [D-IL-6] (D-IL)
- Cosponsors: 15
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**This bill would create a new climate governance structure inside the Financial Stability Oversight Council to identify and manage climate-related risks to the U.S. financial system.** It would set up standing committees, require new data collections, and mandate recurring reports so regulators can spot and address threats to financial stability. - Would create a Climate Financial Risk Committee inside FSOC and an Advisory Committee of up to 30 members to coordinate agency work, share data with the Office of Financial Research, and develop common approaches to climate risk. - Would require federal banking agencies and the National Credit Union Administration to update supervisory guidance for institutions with more than $50 billion in assets to cover credit, liquidity, market, operational, and reputational risks linked to climate. - Would direct the Federal Insurance Office to assess insurance-sector climate risks, update prior findings, and collect homeowners underwriting data for 2023 and 2024 by ZIP code, with annual public reporting beginning within 180 days after December 31, 2025. - Would require FSOC to publish a report within 270 days and annually thereafter assessing impacts on financial stability, data gaps, regulator expertise, insurance availability, international coordination, and providing recommendations to regulators and Congress.

## Cosponsors (15)

- Rep. Castor, Kathy [D-FL-14] (D-FL), 2026-01-27T00:00:00.000Z
- Rep. Lieu, Ted [D-CA-36] (D-CA), 2026-01-27T00:00:00.000Z
- Rep. Mullin, Kevin [D-CA-15] (D-CA), 2026-01-27T00:00:00.000Z
- Rep. Bonamici, Suzanne [D-OR-1] (D-OR), 2026-01-27T00:00:00.000Z
- Rep. Ansari, Yassamin [D-AZ-3] (D-AZ), 2026-01-27T00:00:00.000Z
- Rep. Huffman, Jared [D-CA-2] (D-CA), 2026-01-27T00:00:00.000Z
- Rep. Stansbury, Melanie A. [D-NM-1] (D-NM), 2026-01-27T00:00:00.000Z
- Rep. Velázquez, Nydia M. [D-NY-7] (D-NY), 2026-01-27T00:00:00.000Z
- Rep. Brownley, Julia [D-CA-26] (D-CA), 2026-01-27T00:00:00.000Z
- Rep. Evans, Dwight [D-PA-3] (D-PA), 2026-01-27T00:00:00.000Z
- Rep. Min, Dave [D-CA-47] (D-CA), 2026-01-27T00:00:00.000Z
- Rep. Goldman, Daniel S. [D-NY-10] (D-NY), 2026-01-27T00:00:00.000Z
- Rep. Levin, Mike [D-CA-49] (D-CA), 2026-02-24T00:00:00.000Z
- Rep. Magaziner, Seth [D-RI-2] (D-RI), 2026-05-12T00:00:00.000Z
- Rep. Beatty, Joyce [D-OH-3] (D-OH), 2026-07-21T00:00:00.000Z

## Provisions PRIA read

- Climate oversight for big banks and firms: benefit, high. If enacted, the bill would require federal banking agencies and the National Credit Union Administration to update supervisory guidance to include climate financial risks for institutions with more than $50,000,000,000 in assets. The guidance must cover credit, liquidity, market, operational, and r…
- New FSOC climate committees and report: benefit, high. If enacted, the bill would create a new Advisory Committee on Climate Risk inside the Financial Stability Oversight Council (FSOC). The advisory committee could have up to 30 members appointed by agencies like Energy, EPA, NSF, CFPB, and SEC, would meet bimonthly, have staggered three‑year terms, a…
- Homeowners insurance ZIP-code data report: benefit, medium. If enacted, the Federal Insurance Office (FIO) would publish a homeowners underwriting report within one year covering calendar years 2023 and 2024. FIO would collect ZIP-code level data from insurers across all lines under 31 U.S.C. 313, including premiums, policies, claims, losses, limits, deduct…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025
- 119-hr-2086: Rights for the TSA Workforce Act

## Sources
- [119-hr-7246 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7246)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [119-hr-2086: Rights for the TSA Workforce Act](https://policyrisk.com/legislation/119-hr-2086)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7246 (as of 2026-09-21).