Ensuring U.S. Authority over U.S. Banking Regulations Act
This bill requires specified banking regulatory entities to make certain disclosures when engaging with or implementing major rules to conform with recommendations from certain non-governmental international organizations.
Specifically, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Housing Finance Agency must submit to Congress notice, testimony, and a detailed economic analysis with respect to the proposed or final rule prior to its issuance.
Further, in order to engage with certain international organizations about climate-related financial risks, these entities must report on the entity's activities with the organization and the organization's funding sources.