Bill > HR2923

This bill aims to nullify a specific piece of interagency guidance related to climate-related financial risk management that was jointly issued in October 2023 by three key federal financial regulatory agencies: the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC). The guidance, titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," would be completely invalidated by this legislation, and the agencies are prohibited from issuing any guidance that is substantially similar in nature. By preventing these agencies from providing guidance on how large financial institutions should manage climate-related financial risks, the bill effectively blocks regulatory efforts to encourage or require financial institutions to consider potential economic impacts of climate change in their risk assessment and management strategies.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2923/all-info