HR 2702

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. 

Bill status

Status

Reported

Sponsor

Rep. Andy Barr [R-KY-6]

Cosponsors

19

Policy area

Finance and Financial Sector

Introduced

2025-04-08

Latest action

2025-06-20: Placed on the Union Calendar, Calendar No. 131.

Committee referrals

• Financial Services Committee: House · Reported By · 2025-06-20
• Financial Services Committee: House · Markup By · 2025-05-21
• Financial Services Committee: House · Referred To · 2025-04-08

Recent actions

• 2025-06-20: Placed on the Union Calendar, Calendar No. 131.
• 2025-06-20: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.
• 2025-06-20: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-164.
• 2025-05-21: Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.
• 2025-05-21: Committee Consideration and Mark-up Session Held