Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

HJRES 124 is a resolution seeking congressional disapproval of a rule issued by the Office of the Comptroller of the Currency (OCC) that required large financial institutions to adopt climate-related risk management practices. The rule, published in October 2023 (88 Fed. Reg. 74183), would have mandated major banks to assess and manage climate change risks in their operations. This resolution, if passed, would block the rule from taking effect by invoking the congressional disapproval process under Title 5 of the U.S. Code. It directly affects large banks and financial institutions that would have been required to comply with the climate risk management standards. The bill does not create new rules but aims to prevent the implementation of the OCC's existing proposal.