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HR2923119th CongressWALLET
To nullify certain interagency guidance related to climate-related financial risk management for large financial institutions.
Sponsored By: Representative Balderson, Troy [R-OH-12]
Introduced
Summary
Would erase and block future interagency climate-related risk rules for large financial institutions. It would nullify the final interagency guidance titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," issued by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, and would bar those agencies from issuing any substantially similar guidance going forward.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Cancel climate risk guidance for large banks
This bill would cancel the joint climate‑risk guidance for large banks issued on October 24, 2023 by the Federal Reserve, the Comptroller of the Currency, and the FDIC. It would have no force or effect, and those agencies could not issue substantially similar guidance. Large banks would no longer face those supervisory expectations. This could lower compliance costs for banks but could raise risks for investors and depositors. The change would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Balderson, Troy [R-OH-12]
OH • R
Cosponsors
Rep. Pfluger, August [R-TX-11]
TX • R
Sponsored 4/17/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov