Requires federal banking agencies to give Congress a heads-up and economic analysis for big international banking rules.
Federal banking agencies would need to provide Congress with 120 days' notice and a detailed economic analysis before putting into place any major new rules based on international recommendations. These rules would be considered "major" if they affect the U.S. economy by $10 billion or more over 10 years. The bill would also require these agencies to report on their activities and funding with certain international groups before discussing climate-related financial risks.
Today, federal banking agencies can create rules based on international recommendations without a specific 120-day advance notice or detailed economic analysis to Congress. They also don't have to report on their interactions with certain international groups about climate-related financial risk before engaging with them. After this bill, agencies would need to provide Congress with 120 days' notice and a detailed economic analysis for any major rule (affecting the economy by $10,000,000,000 or more over 10 years) that aligns with international recommendations. They would also need to report on specific international organizations' activities and funding before discussing climate-related financial risks with them.
HR 3355 · 119th Congress · May 13, 2025 · AI Summary by gemini-2.5-flash · 5/10
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