Washington, D.C. — Today, the U.S. Department of Housing and Urban Development (HUD) issued an interim final Affirmatively Furthering Fair Housing rule, based on a 2015 rule first issued by the Obama administration. Following the posting of the rule, Lily Roberts, managing director for Economic Policy at the Center for American Progress, issued the following statement: […]
Washington, D.C. — Center for American Progress Economist Michael Madowitz released the following statement today on the May 2021 employment situation figures from the U.S. Bureau of Labor Statistics: Today’s jobs numbers show that the effects of the American Rescue Plan and President Joe Biden’s vaccination program are helping Americans get back to work. While the increase […]
Washington, D.C. — A new report from the Center for American Progress, Community Legal Services of Philadelphia, and the National Employment Law Project examines recent momentum as well as lessons learned from a wave of clean slate and fair chance licensing reforms in states around the country. Following decades of overcriminalization, 1 in 3 American adults now […]
Washington, D.C.- Today President Biden released his fiscal year 2022 budget proposal. Following the release, Mara Rudman, executive vice president at the Center for American Progress issued the following statement: President Biden’s budget tackles the country’s most urgent challenges. Along with the priorities outlined in the American Jobs Plan, and the American Families Plan, the […]
RELEASE: CAP Report Advocates for Addressing Climate-Related Financial Risk Through Bank Capital Requirements
Date: May 11, 2021
Contact: Julia Cusick
Washington, D.C. A new report from the Center for American Progress looks at how bank capital requirements can be an important tool in strengthening the resilience of the financial system to climate-related risks.
While the precise impact of climate change on the financial system is uncertain, it clearly has the potential to cause a financial crisis more profound than the Great Recession. Financial regulators are increasingly paying attention to the global economy’s exposure to climate change and seeking ways to both mitigate climate-related financial risks and ensure the financial system serves as a source of strength to the economy during the transition away from fossil fuels.