Bars federal banking regulators from considering reputational risk, meaning negative publicity about a bank's business practices, when they supervise banks and credit unions.

Official title: FIRM Act

Next stop House floor: awaiting a vote

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 08-APR-2025

Referred 08-APR-2025

Approved by committee 21-MAY-2025

Reported 20-JUN-2025

On the calendar 20-JUN-2025

Key points

Requires each federal banking agency to remove references to reputational risk from its guidance, rules, and examination manuals.
Prohibits agencies from conducting examinations, issuing criticisms, making ratings decisions, or taking enforcement actions based on reputational risk.
Requires agencies to report to Congress within 180 days confirming implementation and describing changes to internal policies.

AI-generated from the Reported in House text of 20-JUN-2025 · verify · report an error

Official CRS summary

Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (08-APR-2025); the text has changed since (Reported in House, 20-JUN-2025).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov

Committee referrals (1)

Financial Services Committee (House)

Policy area

Finance and Financial Sector

Sponsor Andy Barr (R-KY) Cosponsors · 19

■ 18 R■ 1 D

18 Republicans

1 Democrat

Ritchie Torres

congress.gov page Reported in House (20-JUN-2025) Introduced in House (08-APR-2025)