Protecting America's Economy from the Carbon Bubble Act of 2020 2020-10-21 Introduced in Senate Protecting America's Economy from the Carbon Bubble Act of 2020

This bill prohibits certain financial companies (including bank holding companies, savings and loan holding companies, and insured depository institutions) from involvement in fossil fuel production. Prohibited activities include

  • providing loans to and making investments in fossil fuel companies or projects,
  • facilitating transactions that funds new fossil fuel production,
  • securitizing assets that provide funds for new fossil fuel production, and
  • entering into certain derivatives transactions related to new fossil fuel production.

Violators are subject to criminal and civil penalties.

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