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FIRM Act

Official title: A bill to curtail the political weaponization of Federal banking agencies by eliminating reputational risk as a component of the supervision of depository institutions.

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How Congress Voted

What Happened in Congress?

Pending

Not yet voted on the floor.

Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, current stage
  4. Outcome, not yet

What This Bill Does

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.

Sponsors

Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateCommittee 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.
  2. SenateCommittee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
  3. Library of CongressIntroduced in Senate
  4. SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  5. Introduced
  6. Committee

Comments

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