Biden’s Climate Order Opens Door To Novel Finance Oversight, Analyst Says

President Joe Biden’s recent order on managing financial risks from climate change could open the door to use of rarely used statutory authorities aimed at pushing regulators to adopt strict disclosure and other rules and subjecting certain financial institutions to strict scrutiny by the Federal Reserve, according to a policy analyst at the politically influential Center for American Progress (CAP). “The president doesn’t have the authority to do this on his own” but the order assigns the inter-agency Federal Stability...