The National Investment Authority Act
Based on a proposal by Professor Saule Omarova, this legislation would establish a new federal agency to coordinate federal investment range toward a range of critical infrastructure needs, most notably the climate crisis. The bill's infrastructure bank, public asset manager, and bailout manager functions are explained in this overview.
The Climate Crisis Financial Stability Act
Based on a proposal by financial stability expert Gregg Gelzinis, this legislation directs the federal banking regulators to establish the strongest possible climate risk supervision framework, including climate risk-weighed capital requirements and the integration of climate risks into stress tests.
The Bank Merger Review Modernization Act
Based on a paper by Professor Jeremy Kress, this legislation by Rep. Chuy Garcia and Sen. Elizabeth Warren would reform the "rubber-stamping" of bank mergers by the Federal Reserve and other prudential regulators by giving the CFPB a role in reviewing consumer protection considerations for major bank mergers, clarifying financial stability factors that regulators must consider, and more.