To nullify certain interagency guidance related to climate-related financial risk management for large financial institutions.
Latest Action
Referred to the House Committee on Financial Services.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™This bill, introduced in the 118th Congress as H.R. 10120, aims to nullify certain interagency guidance related to managing climate-related financial risks for large financial institutions. The bill was referred to the House Committee on Financial Services but did not advance further and is currently classified as failed or expired. The legislation falls under the policy area of Finance and Financial Sector and seeks to remove or invalidate existing federal guidance that addresses how large financial institutions should consider climate-related risks in their financial risk management practices.
H.R. 10120 sought to eliminate specific federal guidance on climate-related financial risk management for large financial institutions but did not progress beyond committee referral and is now expired.
- The bill targets interagency guidance concerning climate-related financial risk management for large financial institutions.
- It was introduced in the House and referred to the House Committee on Financial Services on November 14, 2024.
- The bill did not advance beyond committee referral and is currently classified as failed or expired.
['Large financial institutions potentially relieved from complying with federal climate-related financial risk management guidance.', 'Financial sector entities that may prefer reduced regulatory oversight related to climate risk.']
["The bill’s nullification of interagency guidance could reduce the federal government's ability to oversee climate-related financial risks.", 'Lack of updated guidance might affect the consistency and transparency of risk management practices among large financial institutions.', 'Potential challenges in monitoring and managing systemic financial risks linked to climate change.']
The bill was introduced during the 118th Congress and referred to the House Committee on Financial Services. It addresses federal interagency guidance on climate-related financial risk management, a topic of ongoing policy discussion within the financial regulatory framework. The bill did not advance beyond committee referral and is now considered failed or expired.
Hidden impact flags detected: 1
GovScope reviewed 1 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Potential decrease in the integration of climate-related risk considerations in financial decision-making by large institutions.', 'Possible increased exposure of the financial sector to climate-related risks due to reduced federal guidance.', 'Impacts on the broader financial market stability if climate risks are not adequately managed.']
The bill’s failure to advance limits the availability of detailed legislative text and official summary, which constrains comprehensive analysis. The key transparency consideration is the removal of interagency guidance, which may reduce federal oversight and coordination on climate-related financial risks. Monitoring the implications of such regulatory changes on financial stability and climate risk management remains important.
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