United StatesFIRM Act
What it 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.
More detail
Agencies must report on the implementation of this bill.
Where do you stand?
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 18Committee 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.Latest
- Mar 18Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
- Mar 13Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Mar 6Introduced in Senate
- Mar 6Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Introduced