119th Congress
H.R. 2702
FIRM Act
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- Andy Barr(R-KY)
- Introduced
- Apr 8, 2025
- Policy area
- Finance and Financial Sector
- Committees
- House Committee on Financial Services
- Official text
- Reported in House · Congress.gov page
Cosponsors (19)
Original cosponsors (16)
- Andrew Ogles (R-TN)
- Ann Wagner (R-MO)
- Barry Loudermilk (R-GA)
- Frank D. Lucas (R-OK)
- Glenn Grothman (R-WI)
- John W. Rose (R-TN)
- Lisa C. McClain (R-MI)
- Mark B. Messmer (R-IN)
- Marlin A. Stutzman (R-IN)
- Pete Sessions (R-TX)
- Ritchie Torres (D-NY)
- Scott Fitzgerald (R-WI)
- Tim Moore (R-NC)
- Troy Downing (R-MT)
- William R. Timmons IV (R-SC)
- L000578
Added later (3)
- Derek Schmidt (R-KS) · May 5, 2025
- Roger Williams (R-TX) · May 5, 2025
- Andrew R. Garbarino (R-NY) · May 19, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Jun 20, 2025 · House
Placed on the Union Calendar, Calendar No. 131. - Jun 20, 2025 · House
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164. - May 21, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19. - May 21, 2025
Committee Consideration and Mark-up Session Held - Apr 8, 2025 · House
Referred to the House Committee on Financial Services. - Apr 8, 2025
Introduced in House