S 875
119th Congress
Senate
Finance and Financial Sector
FIRM Act
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
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
Plain-English 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.
What's happening now
Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.