PSI Sci
New here? Follow the money and the votes · Not sure of your district? Find your U.S. House member · Find your state legislators

H.R. 3571: Climate Change Financial Risk Act of 2021

Before you vote › Federal bills

H.R. 3571: Climate Change Financial Risk Act of 2021

117th Congress · introduced 2021-05-28 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Environment and Climate Change.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2021-05-28 · official record
  2. Who proposed it: Rep. Casten, Sean [D-IL-6] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Environment and Climate Change. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Climate Change Financial Risk Act of 2021

Plain summary

Climate Change Financial Risk Act of 2021 This bill addresses climate change risk and its potential impact on the financial system. The Federal Reserve Board must develop financial risk analyses relating to climate change for specified large nonbank financial companies and bank holding companies. Specifically, these entities will be evaluated every two years on whether they have the capital necessary to absorb financial losses that would arise under several different climate change risk scenarios. The bill also establishes the Climate Risk Scenario Technical Development Group to provide recommendations to the board regarding such climate change risk scenarios, and determine the financial and economic risks of these scenarios. The Financial Stability Oversight Council of the Department of the Treasury must establish a committee to assist it in identifying risks and responding to threats to the financial system as a result of climate change.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Climate Change Financial Risk Act of 2021

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Casten, Sean [D-IL-6] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Scott H. Peters (D-CA), Mike Levin (D-CA), Mike Quigley (D-IL), Pramila Jayapal (D-WA), Jared Huffman (D-CA)

Sponsor's campaign money: Rep. Casten, Sean [D-IL-6] reported raising $2.5 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong117-hr3571 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117