To nullify certain interagency guidance related to climate-related financial risk management for large financial institutions.

HR 10120 nullifies federal banking regulators' 2023 guidance requiring large financial institutions to manage climate-related financial risks. The bill makes this specific guidance invalid and prohibits the Federal Reserve, Comptroller of the Currency, and FDIC from issuing similar rules in the future. It directly affects large banks and financial firms that would have been subject to the climate risk management requirements. The law removes a regulatory framework without creating new obligations or funding.