Sponsors
The bill increases congressional transparency and economic scrutiny of large, internationally linked financial rules—helping oversight and domestic control—at the cost of added regulatory delays, administrative burdens, and risks to international coordination that could raise costs and weaken financial resilience.
Taxpayers, lawmakers, and financial institutions will get earlier and clearer information because federal regulators must give Congress 120 days' notice, provide detailed economic analyses, and disclose participation in international initiatives and funding—improving transparency and enabling congressional review of major international-linked rules.
Middle-class families, small-business owners, and banks will benefit from required 10-year economic projections (costs, sector effects, credit availability, GDP, employment), which clarify how large regulatory changes could affect credit and the broader economy and support more informed policymaking.
Taxpayers and financial institutions gain stronger domestic oversight because Congress will have better visibility and influence over rules that align with international recommendations, helping ensure U.S. regulatory choices reflect national priorities.
Financial institutions and the public could face greater risk because the 120-day pre-notice requirement can delay issuance of urgent rules and slow implementation of safeguards for the financial system.
Small businesses, consumers, and banks may bear higher costs because preparing the mandated detailed analyses raises regulators' compliance costs, which can be passed on through higher fees or reduced credit availability.
U.S. firms and banks that operate globally could be disadvantaged because singling out high-cost rules tied to specific international organizations (and the $10 billion threshold) may hinder adoption of coordinated international standards and increase regulatory divergence.
Based on analysis of 3 sections of legislative text.
Requires 120 days' notice and detailed economic analysis to Congress for major rules implementing recommendations from specified international financial bodies, and conditions meetings on climate risk on annual reporting.
Introduced May 13, 2025 by Barry D. Loudermilk · Last progress May 13, 2025
Requires several federal banking regulators to give Congress at least 120 days' notice, testimony, and a detailed economic analysis before proposing or finalizing any large rule that implements or aligns with recommendations from certain international financial organizations. It also bars those regulators from meeting with three named international bodies on climate-related financial risk in a year unless the regulator first files an annual report describing its participation and the covered organization’s funding sources.