Install
FIRM Act
To curtail the political weaponization of Federal banking agencies by eliminating reputational risk as a component of the supervision of depository institutions.
- Introduced
- Committee
- Passed House
- Passed Senate
- To President
- Became law
Summary
Financial Integrity and Regulation Management Act or the FIRM Act
This bill prohibits the consideration of reputational risk by federal banking agencies when regulating, examining, or supervising a depository institution or credit union. The bill defines reputational risk as the potential for negative publicity or public attention to decrease confidence in the institution, lead to litigation, reduce revenues, or result in other adverse impacts to the institution.
Agencies must report on the implementation of this bill.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Jun 20, 2025 Placed on the Union Calendar, Calendar No. 131.
- Jun 20, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.
- May 21, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.
- May 21, 2025 Committee Consideration and Mark-up Session Held
- Apr 8, 2025 Referred to the House Committee on Financial Services.
- Apr 8, 2025 Introduced in House
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