Letters to Congress: Letter in Opposition to H.R. 5535, the “Insurance Data Protection Act” and the Congressional Review Act Resolutions Against the SEC’s Climate Financial Risk Disclosure Rule and the Climate-Related Financial Risk Management Principles

View or download a PDF of the letter here.

AFR and partners submitted a letter to the committee urging members to vote down a series of bills and resolutions that would roll back agency rules, guidance, and authorities to address climate-related financial risk. If passed, these bills would 1) constrain the authority and severely limit the effectiveness of financial regulators as they attempt to deal with an active crisis in the insurance industry, and 2) nullify modest efforts to deliver higher quality climate-related risk data to investors and more effective bank risk management in the face of growing threats to bank safety and soundness. All of these climate-related bills and resolutions passed out of committee on party line votes, with all Democrats rejecting them.