US Congress House Bill 5194 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 15-0)
Status: Introduced on November 20 2019 - 25% progression, died in committee
Action: 2019-11-21 - Referred to the Subcommittee on Environment and Climate Change.
Pending: House Environment and Climate Change Committee
Text: Latest bill text (Introduced) [PDF]

Addresses climate change risk and its potential impact on the financial system. The Federal Reserve Board must develop financial risk analyses relating to climate change for specified large nonbank financial companies and bank holding companies. Specifically, these entities will be evaluated every two years on whether they have the capital necessary to absorb financial losses that would arise under several different climate change risk scenarios. The bill also establishes the Climate Risk Scenario Technical Development Group to provide recommendations to the board regarding such climate change risk scenarios, and determine the financial and economic risks of these scenarios. The Financial Stability Oversight Council of the Department of the Treasury must establish a subcommittee to assist it in identifying risks and responding to threats to the financial system as a result of climate change.

Climate Change Financial Risk Act of 2019

Rep. Sean Casten [D-IL]	Rep. Susan Wild [D-PA]	Rep. Paul Tonko [D-NY]	Rep. Julia Brownley [D-CA]
Rep. Suzanne Bonamici [D-OR]	Rep. Joseph Kennedy [D-MA]	Rep. Scott Peters [D-CA]	Rep. Stephen Lynch [D-MA]
Rep. Juan Vargas [D-CA]	Rep. Tulsi Gabbard [D-HI]	Rep. Mike Levin [D-CA]	Rep. Mike Quigley [D-IL]
Rep. Emanuel Cleaver [D-MO]	Rep. Madeleine Dean [D-PA]	Rep. Raul Grijalva [D-AZ]

Date	Chamber	Action
2019-11-21	House	Referred to the Subcommittee on Environment and Climate Change.
2019-11-20	House	Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-11-20	House	Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-11-20	House	Introduced in House

SB2903 (Same As) 2019-11-20 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/5194/all-info
Text	https://www.congress.gov/116/bills/hr5194/BILLS-116hr5194ih.pdf