Install
FIRM Act
A bill 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 Senate
- Passed House
- 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
- Mar 18, 2025 Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
- Mar 18, 2025 Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.
- Mar 13, 2025 Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Mar 6, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Mar 6, 2025 Introduced in Senate
Congressional and federal records come from official public sources: the House Clerk, the U.S. Senate, GovInfo and the Library of Congress (bill status), the Federal Register, and the congress-legislators project. They are copied on a schedule and may lag the official record by a few hours; the official sources govern. News and coverage counts are drawn from the 4Search index and reflect what the press published, not 4Search's views. Nothing here is an endorsement of any candidate, party or position. Terms of use.