A joint resolution providing congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Rescission of Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

Key Points

• Sen. Warren and Sen. Whitehouse introduced a plan to keep climate safety rules for the country's biggest banks. They are trying to stop a government agency from canceling guidelines that help banks prepare for financial problems caused by climate change.
• The guidelines require banks with over $100 billion in assets to look at how extreme weather or new environmental laws might hurt their business. This includes tracking risks like property damage from floods or financial losses in the energy industry.
• If this resolution passes, it would overturn a decision by the Office of the Comptroller of the Currency to get rid of these rules. This would ensure that the largest financial institutions continue to account for climate-related risks in their long-term planning.
• Supporters say these rules are necessary to prevent a future financial crisis caused by environmental disasters. They argue that if big banks aren't prepared for the costs of climate change, it could put the entire U.S. economy at risk.