Major Banks Must Disclose Detailed Reports on Risk, Labor, and Climate Impact.
This law mandates that the largest banks (GSIBs) submit comprehensive annual reports to the Federal Reserve, which will then be made public. Citizens gain transparency into how these institutions manage financial risks, treat employees (pay, arbitration), and impact the environment and local markets through mergers. The goal is to enhance public accountability and oversight of systemically important financial entities.
Key points
Largest banks must publicly disclose detailed data on their operations, including financial risk management, trading structures, and compliance with proprietary trading restrictions (Volcker Rule).
New reporting requirements cover employee treatment, including CEO-to-worker pay ratios, minimum wages, and the use of forced arbitration clauses in disputes with consumers and employees.
Banks must report on their climate and environmental justice involvement, including fossil fuel financing and impact on minority communities.
Disclosure of the number of consumers, employees, or investors harmed by bank misconduct that resulted in enforcement actions.
Expired
Citizen Poll