FIRM Act
- Last Action
- 6/20/2025
Actions
- 2025-06-20Placed on the Union Calendar, Calendar No. 131.
- 2025-06-20Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.
- 2025-06-20Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.
- 2025-05-21Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.
- 2025-05-21Committee Consideration and Mark-up Session Held
- 2025-04-08Referred to the House Committee on Financial Services.
- 2025-04-08Introduced in House
- 2025-04-08Introduced in House
CRS Summary
As of 2025-04-08 (00)
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.
Cosponsors (19)
- Ritchie Torres (D-NY)
- Lisa McClain (R-MI)
- Frank Lucas (R-OK)
- Barry Loudermilk (R-GA)
- John Rose (R-TN)
- Ann Wagner (R-MO)
- Marlin Stutzman (R-IN)
- William Timmons (R-SC)
- Scott Fitzgerald (R-WI)
- Tim Moore (R-NC)
- Mark Messmer (R-IN)
- Andrew Ogles (R-TN)
- Troy Downing (R-MT)
- Pete Sessions (R-TX)
- Doug LaMalfa (R-CA)
- Glenn Grothman (R-WI)
- Roger Williams (R-TX)
- Derek Schmidt (R-KS)
- Andrew Garbarino (R-NY)
Subjects
- Banking and financial institutions regulation
- Congressional oversight
- Financial services and investments
- Government information and archives
- Government studies and investigations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.