Washington, D.C. – House Republicans are moving forward with a funding bill (H.R. 4664) that would undermine much-needed consumer protections, roll back hard-fought reforms of Wall Street, and hamper our country’s ability to address the financial risks from climate change.
Federal agencies should move swiftly to identify systemically important financial institutions (SIFIs) for heightened scrutiny now that they have finalized a process for this designation process, according to Americans for Financial Reform Education Fund.
Treasury’s Federal Insurance Office (FIO) took an important initial step this week toward understanding how climate change is affecting homeowners insurers’ coverage and pricing decisions for consumers. Disappointingly, the notice of data collection was scaled back from earlier proposals, omitting queries critical to fully understanding the nature of the ongoing insurance crisis.
Washington, D.C. – The following steering group members of the Save Our Retirement coalition – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Center for American Progress, Consumer Federation of America, Economic Policy Institute, and Pension Rights Center – commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when financial professionals give retirement investment advice:
WASHINGTON, DC – There should be no added compliance costs for 75% of the largest public companies to disclose their greenhouse gas emissions under the upcoming Securities and Exchange Commission (SEC) climate financial risk disclosure rules, a new report has found. The findings cast doubt on U.S. business groups’ claims that the costs of fully disclosing their climate risks would be too high.
Washington, D.C. — The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency today released joint Principles for Climate-related Financial Risk Management for Large Financial Institutions that establish climate-related risk management expectations for banks with over $100 billion in assets.