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OCC Moves to Challenge California Climate Disclosure Laws
Original: OCC Challenges California’s Climate Disclosure Laws, Citing Federal Preemption and Its Exclusive Visitorial Authority Over National Banks
The Office of the Comptroller of the Currency is challenging California's climate disclosure laws, arguing that federal preemption and its exclusive visitorial authority over national banks bar the state from imposing these reporting requirements. The dispute sets a national banking regulator against one of the most ambitious state-level climate disclosure regimes in the US, raising questions over whether federally chartered banks must comply with California's emissions reporting rules.
Why now: The fight tests how far states can regulate national banks on climate disclosure, a high-stakes question for US finance and climate policy.
Evidence
- OCC Challenges California’s Climate Disclosure Laws, Citing Federal Preemption and Its Exclusive Visitorial Authority Over National Banks · Consumer Finance Monitor
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