FIRM Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 6, 2025)
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.
What just happenedMar 18, 2025
Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
Who’s behind it
- Reported to SenateMar 18, 2025
- Introduced in SenateMar 6, 2025
- Mar 18, 2025Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
- Mar 18, 2025Committee
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.
Banking, Housing, and Urban Affairs Committee - Mar 18, 2025Committee14000
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.
Banking, Housing, and Urban Affairs Committee - Mar 13, 2025Committee
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Banking, Housing, and Urban Affairs Committee - Mar 6, 2025IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Mar 6, 2025IntroReferral10000
Introduced in Senate