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".
Latest Action
Placed on the Union Calendar, Calendar No. 517.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™House Joint Resolution 126 (HJRES 126) from the 118th Congress is a legislative measure aimed at disapproving a rule submitted by the Federal Deposit Insurance Corporation (FDIC). The rule in question relates to establishing "Principles for Climate-Related Financial Risk Management for Large Financial Institutions." The resolution seeks to use the congressional disapproval process under chapter 8 of title 5, United States Code, to nullify the FDIC's climate risk management rule for large financial institutions. The bill was introduced in the House and was placed on the Union Calendar but ultimately failed or expired without becoming law. No full text or official summary of the bill's provisions is available in the source data.
HJRES 126 attempted to overturn an FDIC rule on climate-related financial risk management for large banks but did not pass and is no longer active.
- The resolution targets a specific FDIC rule concerning climate-related financial risk management principles for large financial institutions.
- It uses the congressional disapproval mechanism under chapter 8 of title 5, U.S. Code, which allows Congress to nullify federal agency rules.
- The bill was introduced in the House, placed on the Union Calendar, but ultimately failed or expired without enactment.
['Large financial institutions subject to FDIC regulation, as the disapproval would prevent the implementation of new climate risk management requirements.', 'The FDIC, as the agency whose rule is being challenged, may benefit from congressional oversight clarifying the scope of its regulatory authority.']
["The absence of the full bill text and official summary limits detailed understanding of the resolution's specific arguments or provisions.", 'Using the congressional disapproval process to overturn agency rules can raise questions about the balance of regulatory authority between Congress and federal agencies.', "Potential implementation challenges include the impact on the FDIC's ability to manage climate-related financial risks in large institutions if the rule is disapproved."]
HJRES 126 is part of ongoing legislative activity concerning federal agency regulation of climate-related financial risks. The bill reflects congressional engagement with the FDIC's regulatory approach to climate risk management for large banks. The resolution was introduced and considered during the 118th Congress but did not advance to enactment, indicating limited legislative support or competing priorities.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
["If enacted, the disapproval could limit the FDIC's regulatory tools to address climate-related financial risks, potentially affecting the resilience of large financial institutions to climate impacts.", 'The resolution may influence future congressional-executive interactions regarding the scope of agency rulemaking on climate and financial regulation.', 'Financial institutions might experience regulatory uncertainty depending on the status of climate risk management rules.']
The bill's use of the congressional disapproval process highlights an important oversight mechanism allowing Congress to nullify agency rules. However, the absence of the full text and official summary restricts comprehensive transparency and public understanding of the resolution's detailed provisions and rationale. Monitoring the legislative history and agency responses would be important for assessing the broader implications for regulatory governance and climate-related financial oversight.
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