OPENING THE RECORD
OPENING THE RECORD
H.R. 2702 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
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.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.