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Climate Change Financial Risk: New Rules for Banks

This act requires the Federal Reserve to analyze how climate change impacts the nation's financial stability. It aims to help banks and other large financial companies better prepare for potential losses from extreme weather events or the transition to green energy. Citizens may experience greater banking system stability and improved risk management in the future.
Key points
The Federal Reserve will assess how floods, droughts, or hurricanes affect the finances of banks and companies.
Large banks and financial companies will need to regularly test their resilience to climate risks and submit action plans.
The act aims to protect citizens' savings and economic stability from unforeseen consequences of climate change.
article Official text account_balance Process page
Introduced
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Additional Information
Print number: 119_HR_2823
Sponsor: Rep. Casten, Sean [D-IL-6]
Process start date: 2025-04-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Climate Change Financial Risk Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2823.

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 2025-04-10.

What are the main provisions?

Key points include:

  • The Federal Reserve will assess how floods, droughts, or hurricanes affect the finances of banks and companies.
  • Large banks and financial companies will need to regularly test their resilience to climate risks and submit action plans.
  • The act aims to protect citizens' savings and economic stability from unforeseen consequences of climate change.
What is the specific legal status?

The current status is Introduced.

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. Casten, Sean [D-IL-6].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Environment