Congress moves to restore bank climate-risk oversight after OCC withdrawal
S.J.Res. 113 — 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". · Filed by Elizabeth Warren (D-MA) · 1 cosponsor · Introduced Mar 5, 2026 · Referred to committee
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What it does
This resolution blocks the Office of the Comptroller of the Currency (OCC) from rescinding climate-risk management principles for large banks. The OCC had withdrawn those principles in November 2025; this resolution voids that withdrawal, restoring the climate-risk guidance that large financial institutions must follow.
Why we flagged it
This is a standard CRA disapproval resolution under 5 U.S.C. § 801 et seq., which allows Congress to nullify agency rules within 60 legislative days. It does exactly one thing: block an OCC rescission and restore the prior climate-risk principles.
What the text implies
- If passed, this resolution would restore OCC climate-risk principles without specifying their content or scope—the operative rule lives in the Federal Register citation (90 Fed. Reg. 51756) and prior OCC guidance, not in this text. Enforcement and interpretation depend on those external documents.
- A CRA disapproval is a one-time veto; it does not prevent the OCC from proposing a new rescission rule in the future, only from enforcing this specific November 2025 rescission.
The full analysis lists 3 implications of this text.
Who it affects
Restoring climate-risk oversight may reduce systemic financial risk from climate-related losses and improve long-term financial stability, benefiting depositors and the broader economy. However, the bill does not directly regulate bank lending, pricing, or consumer access to credit—the civic benefit is indirect (risk mitigation) rather than immediate (lower costs, stronger consumer protections).