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HJRES125FEDERALUNKNOWN
High Impact

Proposed Resolution to Overturn Federal Reserve Climate Risk Rules

Original title: HJRES 125: Congress Considers Disapproving Fed Rule on Climate Risk

September 9, 2024

Federal ReserveClimate ChangeFinancial RegulationCongressional Oversight

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The Frame

What this does

The resolution directly impacts the regulatory requirements for large U.S. financial institutions, potentially removing federal oversight standards regarding how these banks must account for climate-related financial threats.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Large Financial Institutions

These institutions are the subject of the Federal Reserve rule and would no longer be required to comply with the 'Principles for Climate-Related Financial Risk Management' if the rule is nullified.

Board of Governors of the Federal Reserve System

The agency's regulatory rule is the target of the disapproval resolution.

What changed

Last recorded activity September 9, 2024.

What's next

Introduced.

Summary

This resolution seeks to invalidate a Federal Reserve rule that sets guidelines for how large financial institutions manage climate-related financial risks. If passed, the rule would be nullified and lose all legal force.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Why It Matters

The resolution directly impacts the regulatory requirements for large U.S. financial institutions, potentially removing federal oversight standards regarding how these banks must account for climate-related financial threats.

Frequently Asked Questions

What does this resolution do?
It uses the Congressional Review Act to nullify a specific rule issued by the Federal Reserve regarding climate risk management for large banks.
What happens if this resolution passes?
The specified Federal Reserve rule would be invalidated and would no longer have any legal force or effect.

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Congressional Challenge to Climate Regulation

The resolution represents a formal attempt to use the Congressional Review Act to roll back climate-related financial oversight established by the Federal Reserve.

Board of Governors of the Federal Reserve System

Connected Entities

organizationBoard of Governors of the Federal Reserve System“Submitted the rule regarding climate risk management”Map →
bill_numberchapter 8 of title 5, United States Code“Legal basis for congressional disapproval”Map →

Analysis Score

0–100
  • Significance75
    How much this matters to a regular citizen
  • Controversy80
    Intensity of disagreement among stakeholders
  • Entertainment10
    Compellingness for a non-policy-wonk reader
  • Buzz40
    Current news / social attention level

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