119th Congress Finance and Financial Sector
S. 875: FIRM Act
Reported
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
Cosponsors
- Jim Banks R-INOriginal
- Katie Britt R-ALOriginal
- Michael Crapo R-IDOriginal
- Kevin Cramer R-NDOriginal
- Bill Hagerty R-TNOriginal
- John Kennedy R-LAOriginal
- Cynthia Lummis R-WYOriginal
- Bernie Moreno R-OHOriginal
- Dave McCormick R-PAOriginal
- Mike Rounds R-SDOriginal
- Pete Ricketts R-NEOriginal
- Thom Tillis R-NCOriginal
Who scored on this bill
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Introductions and cosponsorships count toward weekly caps and show no points.
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- S.J.Res. 18: Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions"
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History
- Introduced in the Senate by Tim Scott.
Show the full action history (5 actions)
- Committee on Banking, Housing, and Urban Affairs. Reported by Senator Scott SC, under authority of the order of the Senate of 03/14/2025 with an amendment in the nature of a substitute. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
- Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.