S. 875: FIRM Act

119th Congress · introduced 2025-03-06 · Finance and Financial Sector · Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.

federal

What does this mean?

Official title

FIRM Act

Plain 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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

FIRM Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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Officials and money

Sponsor: Sen. Scott, Tim [R-SC] · 12 cosponsors

Money: CBO cost estimate: S. 875, the FIRM Act (2026-02-05) No linked contracts or vendors yet.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s875.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

Record fed-us-cong119-s875 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills