Republican AGs criticize hiring of OCC climate risk officer

In a joint letter Thursday, seventeen Republican state attorneys general said they objected to the appointment of Yue Chen as the OCC’s chief climate risk officer, calling the hiring an example of the Biden administration politicizing financial regulation by using financial agencies “to promote radical environmental policy.” They also threatened to “investigate, litigate and work with our members of Congress” if banks in their states feel pressured to cut off services to businesses because of the administration’s environmental focus.

Chen was named chief climate risk officer in September and is the second person to hold the position in a non-acting capacity since its creation last year. The Republican AGs called her appointment the latest in a series of moves “that seek to turn the financial system, and federal financial regulators, into environmental regulators.” They also said their offices “will not sit idly by if you choose to abuse your authority to harm our states and their citizens.”