Ukraine-Russia Talks Yield Major POW Swap as U.S. Pushes for Path to Peace 
U.S. to Begin Paying UN Dues as Financial Crisis Spurs Push for Reforms 
Trump Family Files $10 Billion Lawsuit Over IRS Tax Disclosure 
Trump Extends AGOA Trade Program for Africa Through 2026, Supporting Jobs and U.S.-Africa Trade 
ICE Blocked From Entering Ecuador Consulate in Minneapolis During Immigration Operation 
Federal Judge Restores Funding for Gateway Rail Tunnel Project 
Federal Judge Blocks Trump Administration Move to End TPS for Haitian Immigrants 
New York Legalizes Medical Aid in Dying for Terminally Ill Patients 
U.S. Justice Department Removes DHS Lawyer After Blunt Remarks in Minnesota Immigration Court 
Trump Allows Commercial Fishing in Protected New England Waters 
Trump Signs “America First Arms Transfer Strategy” to Prioritize U.S. Weapons Sales 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Trump Administration Expands Global Gag Rule, Restricting U.S. Foreign Aid to Diversity and Gender Programs 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Iran–U.S. Nuclear Talks in Oman Face Major Hurdles Amid Rising Regional Tensions 
RFK Jr. Overhauls Federal Autism Panel, Sparking Medical Community Backlash 
The U.S. Treasury Department’s Office of the Comptroller of the Currency (OCC) has officially withdrawn climate-related financial risk principles for banks, the agency announced Monday. Acting Comptroller Rodney Hood stated the guidelines were “overly burdensome and duplicative,” adding that the OCC aims to “calibrate regulatory requirements to be effective, not excessive,” while maintaining financial system stability and fairness.
The move marks a significant shift under President Donald Trump, who resumed office on January 20. Since returning to the White House, Trump has aggressively rolled back climate-focused policies, including exiting the Paris Agreement again, halting global climate finance commitments, and pulling U.S. scientists from participating in the Intergovernmental Panel on Climate Change (IPCC).
The now-withdrawn guidance was initially implemented under Democratic President Joe Biden, who prioritized climate risk as a critical issue for financial institutions. Biden’s administration pushed for banks to consider environmental risks, such as those from hurricanes and wildfires, in their risk management frameworks.
Trump and his administration argue that such regulations impose unnecessary burdens on corporations, particularly within the banking sector. The latest rollback aligns with his broader deregulatory agenda, aiming to ease restrictions he believes hinder economic growth.
Environmental advocates have raised concerns over the reversal, warning that eliminating climate risk guidance weakens the financial system’s ability to prepare for and respond to environmental disasters. A recent example includes Hurricane Helene, which devastated parts of Florida in September 2024, highlighting the financial risks of extreme weather events linked to climate change.
With this decision, the U.S. appears to be stepping back from climate-conscious financial regulation, sparking renewed debate over balancing economic interests with environmental responsibility.
© Reuters. All rights reserved.
