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".

Bill 118 hjres 124 is a piece of legislation that aims to disapprove of a rule submitted by the Office of the Comptroller of the Currency (OCC) regarding "Principles for Climate-Related Financial Risk Management for Large Financial Institutions." The bill falls under chapter 8 of title 5 of the United States Code, which allows Congress to review and potentially overturn regulations put forth by federal agencies.

The rule in question requires large financial institutions to consider and manage climate-related financial risks in their operations. This includes assessing the potential impact of climate change on their investments, loans, and overall financial stability. The OCC believes that addressing these risks is crucial for the long-term health and stability of the financial sector.

However, some members of Congress believe that the rule goes beyond the OCC's authority and could impose unnecessary burdens on financial institutions. They argue that climate-related financial risks are speculative and may not have a significant impact on the industry. As a result, they are seeking to disapprove of the rule through this legislation. The bill is currently being debated in Congress, with supporters and opponents presenting their arguments for and against the rule. It remains to be seen whether the bill will ultimately pass and overturn the OCC's climate-related financial risk management rule.