CommonHall

Jump to

  • PageFind my representativesFrom your address
  • PageBillsSearch and filter every bill
  • PageVotesEvery House and Senate roll call
  • PageMassachusettsLegislature and state bills
  • PageBoston City CouncilCouncilors, district map, meetings
  • PageDiscussionsHave your say

↑ ↓ to move · Enter to open · Esc to close

H.R. 2702 · 119th Congress

FIRM Act

Introduced Apr 8, 2025Policy area: Finance and Financial Sector

Read the textOn Congress.gov

Status: In committee

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Law

Latest action

: Placed on the Union Calendar, Calendar No. 131.

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.

Summary by the Congressional Research Service.

Actions

  1. House

    Placed on the Union Calendar, Calendar No. 131.

  2. House

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.

  3. House

    Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.

  4. House

    Committee Consideration and Mark-up Session Held

  5. House

    Referred to the House Committee on Financial Services.

  6. Introduced in House