Big banks must stop funding fossil fuels by 2035 or lose insurance.
H.R. 10746 — Fossil Free Finance Act of 2026 · Filed by Ayanna Pressley (D-MA) · 1 cosponsor · Introduced Oct 5, 2026 · Referred to committee
Your members of Congress
Enter a ZIP to see where your representative and both senators stood on this bill.
Looked up on this device — your ZIP is never stored on our servers.
What it does
This bill tells large banks to make plans to stop funding fossil fuels by 2035. Banks must also stop funding deforestation. Banks must stop funding new fossil fuel projects within 60 days. Banks must stop thermal coal right away. The Federal Reserve can reject plans and punish banks. The FDIC can take away deposit insurance from banks that do not comply.
Who it affects
Large banks with $50 billion or more in assets must follow these rules. Workers and towns that depend on fossil fuel jobs may face hard times. The bill includes money to help workers retrain for new jobs.
One thing to notice
The Federal Reserve can reject bank plans and force banks to sell assets. The bill does not say exactly what rules banks must follow.
From the analysis of the bill text, linked under Primary records below.
Where it stands
1 cosponsor: 1 Democrats.
- Oct 5, 2026 — Introduced · Congress.gov: “Introduced in House”
- Oct 5, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- deposit insurance — A promise that the government will pay back money if a bank fails.
- fossil fuels — Coal, oil, and gas that come from the ground and burn to make energy.
- deforestation — Cutting down trees and forests, often to use the land for other things.
- thermal coal — Coal burned to make heat and electricity for power plants.
- Federal Reserve — The central bank of the United States that makes rules for other banks.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (14,599 characters) on Oct 8, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
“Big banks must stop funding fossil fuels by 2035 or lose insurance.” QuorumCivic. https://share.quorumcivic.app/bill/119/hr10746/simple Report an error
The week in bills
One email, Sunday: what Congress passed, what it changed, and who paid.
One link arrives to confirm the address. It is used for this email and nothing else, and every issue carries an unsubscribe link.