Climate change

With taxpayer dollars and creative deals, these nonprofit funding institutions can help recruit private-sector capital off the sidelines and into underserved markets, leveraging as much as $8 in private funding for every $1 that comes from the government.

The House passed the legislative package, which includes an excise tax on stock buybacks, in a 220-207 vote.

The Biden administration is poised to put its stamp on the banking regulatory landscape, but there are few slam-dunk solutions that will satisfy both the industry and a vocal Democratic base.

Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.

The HSBC Holdings executive at the center of a row over climate change risks has resigned from the bank as he issued a broadside against corporate “cancel culture.”

Europe’s landmark test of banks’ resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter.

In its semiannual risk report, the Office of the Comptroller of the Currency said it was working to provide clarity on the legality and soundness related to digital assets.

A report from the Roosevelt Institute published Monday urges Biden’s bank regulators to address climate risks through supervisory guidance, a move unlikely to garner support from banks. 

Regulators must be cognizant of any threat that could harm the financial sector while resisting the urge to overstep their authority to set policy that should be decided by Congress.