House Republicans unveil ESG bills aimed at regulators

Republicans on the House Financial Services Committee today unveiled four bills aimed at curbing what they characterized as ESG excesses among regulators, including legislation that would eliminate the position of vice chair of supervision at the Federal Reserve. The four bills combine several Republican bills on ESG, with three focused on the Securities and Exchange Commission. The fourth bill would increase congressional oversight of banking regulators and remove the vice chair of supervision designation from the Fed.

“America’s banking regulators are implementing regulations on climate change in the form of environmental, social and governance policies, but the American people and Congress are being left in the dark as to how these policies are being formulated,” said Rep. Barry Loudermilk (R-Ga.), sponsor of the banking regulator bill.