At a House Financial Services Subcommittee Oversight hearing titled "Victims of Regulatory Overreach: How the SEC’s Climate Disclosure Rule Will Harm Americans," witnesses testified on the SEC's "aggressive" regulatory agenda, describing an "onslaught of rushed rulemaking."
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House Financial Services Subcommittee on Oversight and Investigations Chair Bill Huizenga (R-MI) asserted that the SEC overstepped its authority by "advancing a progressive climate agenda."
CFTC Chair Rostin Behnam described the agency's ongoing regulatory and enforcement efforts "to address the expanding dislocation between regulation and innovation."
FDIC Vice Chair Travis Hill expressed concern that "an overreaction is underway" from regulators in response to the bank failures in March 2023.
CFTC Commissioner Christy Goldsmith Romero offered three proposals to promote market resilience against climate-related financial risk.