S 875 United States Senate · 119th Congress

FIRM Act

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

President

Introduced Mar 6, 2025 Last action Mar 18, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 18, 2025

Upper · Passed

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.

upper

Mar 13, 2025

Upper · Passed

Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

upper

Mar 6, 2025

Committee

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

upper

Mar 6, 2025

Introduced

Introduced in Senate

upper

1 primary · 12 co-sponsors