WASHINGTON, D.C. – Congresswoman Erin Houchin is proud to announce that two of her bills recently passed out of the Financial Services Committee.
These essential pieces of legislation address critical banking issues and reform regulations.
Resolution to Stop FDIC Climate Rule:
Congresswoman Houchin’s first bill to pass the committee dismantles the Federal Deposit Insurance Corporation’s (FDIC) recent climate rule. The Biden Administration’s climate-focused obsession undermines proper risk management within the banking sector. The Biden climate rule requires banks to account for customers’ “climate risks” and other Environmental, Social, and Governance (ESG) factors when determining business transactions.
“The FDIC should not be caught up in the left’s climate hysteria,” said Congresswoman Houchin. “Even a year after the collapse of Silicon Valley Bank and Signature Bank, these regulators still have their eyes off the ball and are more focused on picking climate winners and losers than they are on promoting sound risk management.”
More information on this CRA can be found in Rep. Houchin’s previous press release.
FUTURES Act:
Congresswoman Houchin also passed a second bill out of the Financial Services Committee, which she authored alongside Congressman Bill Foster (D-IL) and Congressman French Hill (R-AR). The Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act is bipartisan legislation that modernizes banking regulation using technology.
“The FUTURES Act harnesses technological advancements to streamline regulation and reduce burdens on banks and customers alike,” said Congresswoman Houchin.
More information on this bill can be found in Rep. Houchin’s previous press release.
Congresswoman Houchin invites her colleagues to join her in supporting these important legislative efforts to ensure the safety and soundness of our financial system.
