CONGRESS FOR VOTERS

RepublicanBill · H.R. 2923· House(119-HR-2923)

To nullify certain interagency guidance related to climate-related financial risk management for large financial institutions.

Rep. Balderson
Age: 64 years
Ohio
Introduced
4/17/2025
Last activity
4/17/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Troy Balderson
Cosponsors
Republican - 1Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill aims to nullify specific interagency guidance regarding climate-related financial risk management. The target of this action is the guidance titled "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," which was published on October 24, 2023. This guidance was issued by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. If passed, the guidance will have no force or effect. Additionally, the bill prevents these agencies from issuing any substantially similar guidance.

Yes

  • Is this likely to grow the economy?+1

    By removing regulatory guidance, it may slightly reduce compliance burdens on large financial institutions.

  • Would business owners be better off under this?+1

    Reduces the regulatory burden and compliance requirements for large financial institutions.

The opposite· 3 of 8

  • Does this cut the pollution that drives climate change?-2

    Limiting financial guidance on climate risk may reduce institutional pressure to mitigate carbon emissions.

  • Does this better protect air, water and wildlife?-2

    The bill reduces oversight mechanisms that link financial stability to environmental protection.

  • Does this give the federal government more power?-2

    The bill restricts the power of federal regulatory agencies to issue guidance.