Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case f…
Requires the Federal Reserve to develop three climate-change risk scenarios, create a technical advisory group, and coordinate with federal climate science leads. Mandates biennial climate-focused stress analyses for very large bank and nonbank financial firms, requires climate risk resolution plans, and bars capital distributions for entities with unacceptable plans.
Appropriate role of the Federal Reserve in climate policy versus mission limits.
Relative to its intended legislative type, this bill establishes clear substantive legal obligations and amendments to existing supervisory law, with substantial specificity on scenarios, governance, and reporting.
Requires the Federal Reserve to develop three climate-change risk scenarios, create a technical advisory group, and coordinate with federal climate science leads.
Mandates biennial climate-focused stress analyses for very large bank and nonbank financial firms, requires climate risk resolution plans, and bars capital distributions for entities with unacceptable plans.
Directs surveys of $10 billion+ supervised firms to assess vulnerabilities and adaptation plans, and requires public reporting of aggregated results while protecting individual respondent identities.
Technocratic approach improves acceptability, but high controversy over climate mandates and increased Fed authority reduces overall chances.
Relative to its intended legislative type, this bill establishes clear substantive legal obligations and amendments to existing supervisory law, with substantial specificity on scenarios, governance, and reporting. It meaningfully integrates with existing statutory text and supervisory frameworks while delegating technical implementation to the Board and designated climate science leads.
Appropriate role of the Federal Reserve in climate policy versus mission limits.
These are examples from the analysis, not a ranked list of the most-affected groups.
Appropriate role of the Federal Reserve in climate policy versus mission limits.
Likely supportive because the bill integrates climate science into financial regulation and forces large firms to plan for climate risks.
Views the measures as necessary to protect economic stability and vulnerable communities from climate-driven losses, though may want stronger safeguards for equity and faster timelines.
Cautiously favorable: appreciates data-driven risk assessment and Fed coordination with science agencies.
Wants clear cost estimates, measured implementation, and legal clarity on Fed authority; supportive if the program remains transparent and proportionate.
Likely skeptical or opposed: sees the bill as an expansion of Fed regulatory authority into industrial policy.
Concerns focus on regulatory burden, mission creep, and politicization of risk assessment that could hurt energy and asset-intensive sectors.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technocratic approach improves acceptability, but high controversy over climate mandates and increased Fed authority reduces overall chances.
The bill has not accumulated any surfaced votes yet.
Appropriate role of the Federal Reserve in climate policy versus mission limits.
Technocratic approach improves acceptability, but high controversy over climate mandates and increased Fed authority reduces overall chance…
Relative to its intended legislative type, this bill establishes clear substantive legal obligations and amendments to existing supervisory law, with substantial specificity on scenarios, governance, and reporting. It m…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.