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S. 875 · 119th Congress

FIRM Act

On calendar

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Bill details

Introduced: 3/6/2025
Current status: On calendar
Introduced by: Tim Scott (R · SC)
Bill ID: 119s875
Latest official action: Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.

Bill overview

A neutral overview based on official congressional sources.

Introduced in Senate

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.

Source: BILLSUM · Summary date: 3/6/2025

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Last updated: 3/6/2025Source: BILLSUMBill: 119s875Learn more →