US bank regulators scrap big bank guidelines for managing climate risks

Top U.S. bank regulators announced on Thursday they were withdrawing previously issued guidance for how large financial institutions should manage climate-related financial risks, calling the guidelines unnecessary.

The Federal Reserve and Federal Deposit Insurance Corporation joined the Office of the Comptroller of the Currency in scrapping the guidance, which was originally issued in 2023.

The move is the latest in a series of steps taken by the Trump administration to withdraw from efforts tied to addressing climate change.