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Congress Disapproves Climate Risk Management Rules for Banks

This resolution means that the proposed rules for managing climate-related financial risks for large financial institutions, put forth by the Federal Deposit Insurance Corporation (FDIC), will not take effect. In practice, this means banks will not be required to follow these specific guidelines in assessing climate risk, which could influence their investment and lending decisions.
Key points
Rules on climate-related financial risk management for large banks, proposed by the FDIC, have been rejected by Congress.
This means banks will not be obligated to follow these specific guidelines in their operations.
The absence of these rules may impact how banks assess and manage climate-related risks.
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Expired
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Additional Information
Print number: 118_HJRES_126
Sponsor: Rep. Houchin, Erin [R-IN-9]
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 Federal Deposit Insurance Corporation 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_126.

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:

  • Rules on climate-related financial risk management for large banks, proposed by the FDIC, have been rejected by Congress.
  • This means banks will not be obligated to follow these specific guidelines in their operations.
  • The absence of these rules may impact how banks assess and manage climate-related risks.
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. Houchin, Erin [R-IN-9].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 517.

Is this summary verified?

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

CATEGORIES

Economy