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Congress Disapproves Climate Risk Management Rules for Large Banks

The U.S. Congress is rejecting rules for managing climate-related financial risks that were intended for large financial institutions. This means banks will not have to follow these specific guidelines, which could affect their approach to investments and loans in climate-sensitive sectors.
Key points
Congress disapproves the rule on climate-related financial risk management for large financial institutions.
The rejected rules aimed to help banks assess and manage financial risks from climate change.
This decision means these specific guidelines will not take effect, potentially influencing bank strategies for financing energy and environmental projects.
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Expired
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Additional Information
Print number: 118_HJRES_124
Sponsor: Rep. Donalds, Byron [R-FL-19]
Process start date: 2024-04-05
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_124.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-04-05.

What are the main provisions?

Key points include:

  • Congress disapproves the rule on climate-related financial risk management for large financial institutions.
  • The rejected rules aimed to help banks assess and manage financial risks from climate change.
  • This decision means these specific guidelines will not take effect, potentially influencing bank strategies for financing energy and environmental projects.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Donalds, Byron [R-FL-19].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 515.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy