Senators Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Martin Heinrich (D-NM), Ed Markey (D-MA), Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR) questioned Treasury on its efforts to "[leverage] finance and financial risk mitigation to confront the threat of climate change."
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Senator Elizabeth Warren (D-MA) asked Treasury Secretary Janet L. Yellen, in her role as Chair of the Financial Stability Oversight Council, to address risks to U.S. financial stability caused by the Federal Reserve Board's "rapid increase" in interest rates.
Witnesses testified before the Senate Banking Committee on federal deposit insurance reform.
Before the House Subcommittee on Financial Institutions and Monetary Policy, regulators and state officials testified on efforts to address climate-related financial risk.
House Financial Services Committee Chair Patrick McHenry (R-NC) criticized the Financial Stability Oversight Council’s plans to evaluate nonbank financial institutions based on their size, rather than activities.