Really, all these scam rules did was make it more expensive to do business and interfere in the private market
U.S. regulators toss out rules requiring banks to prepare for climate change
Regulators are doing away with controversial rules that required banks to plan for losses in the event of climate-related events, according to an announcement Thursday.
A joint release from the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Federal Reserve said they no longer believe the requirements are necessary as they are redundant with other provisions banks make to plan for emergencies and unusual events.
“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,” a joint release from the three regulators said.
Good
Fed Governor Michael Barr, the former vice chair for supervision, issued a statement disagreeing with the move.
“Rescinding the principles is shortsighted and will make the financial system riskier even as climate-related financial risks grow,” Barr said in a statement.

Trump administration officials have criticized the Fed for falling prey to mission creep, or exceeding the scope of its mandates for monetary policy and bank supervision. The climate change provisions, established in October 2023, were one point of criticism.
Chair Jerome Powell has repeatedly stated that climate is not a direct Fed issue. The rules required banks, as part of routine testing, to list potential losses they might suffer from climate-related issues.
Since when do Democrats care about exceeding the scope of mandates? They love blowing right by them. But, this is a good start, and, hopefully the Trump admin keeps neutering the scam as practiced by the federal government.
The sign outside the door said Courtroom 1403. But inside, it felt a lot more like the principal’s office.
The UK should be prepared to cope with weather extremes as a result of at least 2C of global warming by 2050, independent climate advisers have said.
Four of New Jersey’s largest cities want a federal judge to throw out the U.S. Department of Justice’s lawsuit challenging their sanctuary policies for undocumented immigrants, arguing the Trump administration wants to relitigate cases that have already been resolved by federal judges.
A federal judge on Wednesday dismissed a lawsuit from young climate activists seeking to block President Donald Trump’s executive orders promoting fossil fuels and discouraging renewable energy.
California Gov. Gavin Newsom has signed a law banning sales of one of the most popular types of handgun in the United States.

