Sponsors
The bill increases congressional oversight and economic analysis of major internationally aligned financial rules—giving lawmakers and the public more time and information—but does so at the cost of slower rule adoption, higher regulatory burdens, potential legal and economic uncertainty, and reduced U.S. engagement in international standard‑setting.
Financial institutions and the public get a mandatory minimum review period (at least 120 days) plus an agency economic analysis before agencies adopt major international-alignment rules, giving Congress and stakeholders more time to evaluate proposals.
Policymakers and oversight bodies receive detailed projections (costs, credit availability, GDP, employment) to inform congressional debate and oversight of major international-alignment rules.
Federal regulators would be more transparent to Congress about their participation in international climate‑finance groups and the funding those bodies receive, improving legislative oversight of foreign influence and non‑governmental funding.
Regulators face new procedural delays that could slow adoption of risk‑mitigating, stability, or consumer‑protection rules tied to international standards, potentially leaving consumers and the financial system exposed longer.
Agencies must produce detailed 10‑year economic projections for covered rules, increasing regulatory workload and compliance costs for agencies and regulated firms.
Limiting regulator engagement with international bodies on climate‑financial risk and targeting internationally aligned rules could weaken U.S. influence in setting cross‑border standards, raising costs for U.S. banks and taxpayers and reducing coordinated responses to systemic risks.
Based on analysis of 3 sections of legislative text.
Introduced May 13, 2025 by Barry D. Loudermilk · Last progress May 13, 2025
Restricts U.S. federal banking regulators from adopting major rules that would align with recommendations from certain international financial organizations unless they provide Congress at least 120 days' advance notice, testimony, and a detailed economic analysis projecting costs and effects. It also bars regulators from meeting or engaging with specified international bodies on climate-related financial risk in a calendar year unless the regulator first files an annual report describing its participation in those organizations and disclosing their funding sources.