The Federal Reserve would have to run climate-focused stress tests on the largest banks and financial firms every two years. Firms that fail to address weaknesses could be blocked from paying dividends or buying back stock. A new advisory group of climate scientists and economists would help design the test scenarios.
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Climate Change Financial Risk Act of 2025 is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Latest action on S. 1471: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who this affects: This bill mainly affects the largest banks and financial companies in the country — those with $250 billion or more in assets. It also affects somewhat smaller banks that would be surveyed about their climate risk. Indirectly, it could affect borrowers and investors if banks change lending or investment decisions based on the test results.
Why this matters: Right now, there is no federal requirement for banks to measure or plan for climate-related financial risks. If major banks are caught off guard by climate losses — from extreme weather, stranded fossil fuel assets, or sudden policy shifts — the damage could spread through the financial system and affect everyday lending, payments, and the broader economy. This bill would give regulators and the public a clearer picture of where the biggest vulnerabilities are.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
