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

# Summary of HR 2923 **What the Bill Would Do** HR 2923 would overturn federal guidance that requires large financial institutions (like banks and investment firms) to assess and manage risks related to climate change. Currently, banking regulators issue guidance encouraging these institutions to evaluate how climate-related events—such as extreme weather or shifts in energy markets—could affect their finances and investments. This bill would eliminate that guidance, meaning financial institutions would no longer be required to follow these climate risk assessment recommendations. **Who It Affects** The bill primarily affects large banks, investment companies, and other major financial institutions that are subject to federal banking regulations.

It could also indirectly impact investors, borrowers, and customers of these institutions by potentially reducing the scrutiny applied to climate-related financial risks. The bill does not affect smaller community banks or individuals' personal finances. **Current Status** HR 2923 was introduced by Representative Troy Balderson (R-OH) and is currently in committee, meaning it has not yet been debated or voted on by the full House of Representatives. The bill reflects ongoing debate between those who view climate risk assessments as necessary financial protections and those who see them as regulatory overreach.