Referred to the House Committee on Financial Services.
The bill voids the October 24, 2023 interagency guidance titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions" issued by the Federal Reserve, OCC, and FDIC, and forbids those agencies from issuing substantially similar guidance.
Progressives stress lost climate-risk oversight and systemic risk.
Relative to its intended legislative type, this bill provides a succinct statutory nullification of one named interagency guidance and a broad prohibition on issuing 'substantially similar' guidance, but it leaves important implementation, definitional, fiscal, and oversight elements unspecified.
The bill voids the October 24, 2023 interagency guidance titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions" issued by the Federal Reserve, OCC, and FDIC, and forbids those agencies from issuing substantially similar guidance.
Content is narrow but ideologically charged; easy to advance in a supportive chamber, unlikely to clear a divided or supermajority-requiring Senate without compromise.
Relative to its intended legislative type, this bill provides a succinct statutory nullification of one named interagency guidance and a broad prohibition on issuing 'substantially similar' guidance, but it leaves important implementation, definitional, fiscal, and oversight elements unspecified.
Progressives stress lost climate-risk oversight and systemic risk.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives stress lost climate-risk oversight and systemic risk.
Likely opposes the bill as removing supervisory tools to manage climate-driven financial risks.
Sees it as weakening oversight of large banks' exposure to climate and transition risks.
Mixed view: supports limiting unilateral agency policymaking but worries about leaving material risks unaddressed.
Prefers a legislative, evidence-based approach to supervisory expectations.
Likely supports the bill as a check on regulatory overreach and politicized guidance.
Views the nullification as protecting banks from non-financial policy mandates.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Content is narrow but ideologically charged; easy to advance in a supportive chamber, unlikely to clear a divided or supermajority-requiring Senate without compromise.
The bill has not accumulated any surfaced votes yet.
Progressives stress lost climate-risk oversight and systemic risk.
Content is narrow but ideologically charged; easy to advance in a supportive chamber, unlikely to clear a divided or supermajority-requirin…
Relative to its intended legislative type, this bill provides a succinct statutory nullification of one named interagency guidance and a broad prohibition on issuing 'substantially similar' guidance, but it leaves impor…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.