Good news! Bravo!
"In another big move against climate alarmism under the Trump administration, quietly on October 16, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency rescinded a set of rules called the “Principles for Climate-Related Financial Risk Management for Large Financial Institutions,” imposed in 2023 under the [46th President] administration.
The rules required that banks specify and disclose what steps they were taking to account for and manage or mitigate climate-related financial risks to their institutions. The 2023 rules were specifically tailored to force banks with more than $100 billion in assets “to integrate climate considerations into governance, scenario analysis, and risk oversight,” including operations and commercial banking, personal loans, and public bond underwriting. ..."
"The federal bank regulatory agencies today announced the withdrawal of interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions.
The agencies do not believe principles for managing climate-related financial risk are necessary because the agencies’ existing safety and soundness standards require all supervised institutions to have effective risk management commensurate with their size, complexity, and activities. ..."
Credits: The Heartland Institute (The Heartland Institute Climate Change Weekly newsletter)
Agencies Announce Withdrawal of Principles for Climate-Related Financial Risk Management (original news release) "Joint Release/Federal Deposit Insurance Corporation/Federal Reserve Board/Office of the Comptroller of the Currency"
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