Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Board of Governors of the Federal Reserve System relating to "Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

What it does

This joint resolution nullifies the notice jointly issued by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation titled Principles for Climate-Related Financial Risk Management for Large Financial Institutions and published on October 30, 2023. The notice provides a framework for financial risk management related to climate change for financial institutions with over $100 billion in assets.

Summary by the Congressional Research Service, Apr 5, 2024 (Introduced in House). CRS summarizes bills impartially; it does not take positions.