A bill to amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes.

1/14/2025, 6:20 PM

Summary of Bill S 5592

Bill 118 s 5592, also known as the Fossil Fuel Production Prohibition Act, aims to amend the Bank Holding Company Act of 1956 to prevent bank holding companies from supporting the production of fossil fuels from new sources. This includes prohibiting these companies from facilitating transactions that would provide funds for the construction of new or expanded fossil fuel infrastructure that would contribute to increased fossil fuel production. The bill is designed to address concerns about the environmental impact of fossil fuel production and the role that financial institutions play in supporting this industry. If passed, this legislation would have significant implications for the banking sector and the fossil fuel industry.

Current Status of Bill S 5592

Bill S 5592 is currently in the status of Bill Introduced since December 18, 2024. Bill S 5592 was introduced during Congress 118 and was introduced to the Senate on December 18, 2024. Bill S 5592's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 18, 2024

Bipartisan Support of Bill S 5592

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Policy Area and Potential Impact of Bill S 5592

Primary Policy Focus

Alternate Title(s) of Bill S 5592

A bill to amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes.