S. 875 119th Congress Senate

FIRM Act

Official title: A bill to curtail the political weaponization of Federal banking agencies by eliminating reputational risk as a component of the supervision of depository institutions.

Introduced: March 6, 2025 Introduced by: Tim Scott Republican · South Carolina See on congress.gov

Finance and Financial Sector Banking and financial institutions regulationCongressional oversightFinancial services and investmentsGovernment information and archivesGovernment studies and investigations

Everywhere this bill has been 5 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 18, 2025

Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.

Mar 18, 2025

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.

Mar 13, 2025

Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

Mar 6, 2025

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Mar 6, 2025

Introduced in Senate

Amendments to this bill 2

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

Amendment	Sponsor	Purpose	Status	Latest action
SAMDT 3,931	Reed, Jack	–	Pending	–
SAMDT 3,930	Reed, Jack	–	Pending	–

Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

What's happening now March 18, 2025

Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.

Plain-English summary 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.

Hearings & markups 1

Business meeting to consider an original bill entitled, "GENIUS Act of 2025", and S.875, to curtail the political weapo…
Meeting Mar 13, 2025 · 10:00 AM EDT · Banking, Housing, and Urban Affairs Committee

Related & companion bills 2

Bill text 2 versions

Introduced in Senate Formatted Text PDF Formatted XML
Reported to Senate Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Banking, Housing, and Urban Affairs Committee
Senate

Lobbying activity 83

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

CITIGROUP WASHINGTON, INC.
for CITIGROUP WASHINGTON, INC. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
CITIGROUP WASHINGTON, INC.
for CITIGROUP WASHINGTON, INC. · District of Columbia · 4th Quarter 2025 (Oct 1 - Dec 31)
AMERICAN BANKERS ASSOCIATION
for AMERICAN BANKERS ASSOCIATION · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
DIGITAL CURRENCY GROUP
for DIGITAL CURRENCY GROUP · Connecticut · 3rd Quarter 2026 (July 1 - Sep 30)
AMERICAN FINTECH COUNCIL
for AMERICAN FINTECH COUNCIL · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
CAPCITY ADVOCATES, LLC
for NATIONAL PAWNBROKERS ASSOCIATION · Texas · 3rd Quarter 2026 (July 1 - Sep 30)

Bodies those filers lobbied

HOUSE OF REPRESENTATIVES
83 filings
SENATE
83 filings
Treasury, Dept of
52 filings
White House Office
38 filings
Federal Reserve System
25 filings
Natl Economic Council (NEC)
24 filings
Executive Office of the President (EOP)
19 filings
Consumer Financial Protection Bureau (CFPB)
17 filings

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 83 filings →

Cosponsors 12