Trump Inspects Lincoln Memorial Reflecting Pool Renovation in Washington 
U.S. Flags Vietnam as “Priority Foreign Country” Over Intellectual Property Concerns 
Brazil Pension Fund Crackdown After Banco Master Collapse Raises Investment Concerns 
US Revises UN Resolution on Iran Strait of Hormuz Attacks Amid Russia-China Opposition 
US Adds European Union to Section 301 Watchlist Amid Trade Concerns 
Senate Stablecoin Bill Sparks Clash Between Banks and Crypto Industry 
Judge Rules Use of Military Lawyers in Civilian Prosecutions Is Lawful 
Trump-Xi Beijing Summit to Focus on Trade, Taiwan, and Boeing Deal 
U.S. Budget Airlines Seek $2.5 Billion Government Aid Amid Rising Jet Fuel Costs 
Russia Downs Over 50 Drones Near Moscow Ahead of Victory Day Ceasefire 
Israel’s Secret Iraq Base Allegedly Supported Iran Air Campaign, WSJ Reports 
Australia Targets Meta, Google, and TikTok With New News Payment Tax Proposal 
Trump Administration Dismisses Entire National Science Board, Raising Concerns Over Scientific Independence 
Trump Invites Top CEOs Including Nvidia, Apple, Boeing to China Summit With Xi Jinping 
FEMA Reinstates Employees After Dissent Letter, Signaling Shift in Workforce Stability 
Rubio Approves $25.8 Billion Weapons Sale to Middle East Allies 
Trump Reportedly Approves Plan to Remove FDA Commissioner Marty Makary Amid Growing Controversies 
The U.S. Treasury Department’s Office of the Comptroller of the Currency (OCC) has officially withdrawn climate-related financial risk principles for banks, the agency announced Monday.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The now-withdrawn guidance was initially implemented under Democratic President Joe Biden, who prioritized climate risk as a critical issue for financial institutions.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.
