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Climate Change Financial Risk Act: Protecting Economic Stability

This act requires the Federal Reserve to analyze how climate change could impact 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 cleaner energy, ultimately protecting your savings and jobs.
Key points
The Federal Reserve will assess how floods, droughts, or hurricanes affect company and bank finances to prevent crises.
Large banks and financial firms will need to plan how to manage climate risks, increasing their security.
The act aims to protect the economy from unforeseen costs related to climate change, which could affect prices and service availability.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1471
Sponsor: Sen. Schatz, Brian [D-HI]
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_S_1471.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

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 company and bank finances to prevent crises.
  • Large banks and financial firms will need to plan how to manage climate risks, increasing their security.
  • The act aims to protect the economy from unforeseen costs related to climate change, which could affect prices and service availability.
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 Sen. Schatz, Brian [D-HI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Environment