S. 875 · 119th Congress

FIRM Act

Introduced on Mar 6, 2025 by Tim Scott (R-SC). 12 cosponsors, all from the sponsor's party. Latest action (Mar 18, 2025): Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.

Stage
Reported by committee
Introduced
Mar 6, 2025
Cosponsors
12
0 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. 3Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

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.

Subjects

  • Banking and financial institutions regulation
  • Congressional oversight
  • Financial services and investments
  • Government information and archives
  • Government studies and investigations

Summary

By the Congressional Research Service (Introduced in Senate, Mar 6, 2025). Public domain.

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.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Tim ScottR-SCSponsor

Republicans · 12

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

No recorded roll call on this measure: it moved by voice vote or unanimous consent, or has not reached the floor.

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Mar 6, 2025Introduced in Senate
  2. Mar 6, 2025 · SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  3. Mar 13, 2025 · SenateCommittee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
  4. Mar 18, 2025Committee 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.
  5. Mar 18, 2025 · SenateCommittee 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.
  6. Mar 18, 2025 · SenatePlaced on Senate Legislative Calendar under General Orders. Calendar No. 32.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. American Bankers Association6 reports
    $14.2M reported (all issues)Federal contractor: AMERICAN BANKERS ASSOCIATIONAI match · 100%
  2. BLOCKCHAIN ASSOCIATION6 reports
    $2M reported (all issues)
  3. CREDIT UNION NATIONAL ASSOCIATION, INC.6 reports
    $6.9M reported (all issues)
  4. Citigroup Washington, Inc.6 reports
    $8.2M reported (all issues)
  5. DIGITAL CURRENCY GROUP6 reports
    $2.3M reported (all issues)
  6. BANK OF AMERICA CORPORATION5 reports
    $4.5M reported (all issues)Federal contractor: BANK OF AMERICA, NATIONAL ASSOCIATIONAI match · 99%
  7. Chamber of Commerce of the U.S.A.5 reports
    $90M reported (all issues)
  8. NATIONAL PAWNBROKERS ASSOCIATION INC5 reports
    $350K reported (all issues)
  9. Americans for Tax Reform4 reports
    $240K reported (all issues)
  10. HUNTINGTON BANCSHARES INC.3 reports
    $340K reported (all issues)
  11. ALLIANCE DEFENDING FREEDOM2 reports
    $80K reported (all issues)
  12. AMERICAN FINTECH COUNCIL2 reports
    $180K reported (all issues)
  13. CENTER FOR RESPONSIBLE LENDING, A SUPPORTING CORP OF CTR FOR COMMUNITY SELF-HELP2 reports
    $150K reported (all issues)
  14. DEFI EDUCATION FUND2 reports
    $140K reported (all issues)
  15. FINANCIAL SERVICES FORUM2 reports
    $1.7M reported (all issues)
  16. JPMORGAN CHASE HOLDINGS LLC2 reports
    $2.1M reported (all issues)
  17. NATIONAL SHOOTING SPORTS FOUNDATION, INC.2 reports
    $3.6M reported (all issues)
  18. National Taxpayers Union2 reports
    $60K reported (all issues)
  19. SOLANA POLICY INSTITUTE2 reports
    $1.2M reported (all issues)
  20. Americans for Financial Reform1 report
    $150K reported (all issues)
  21. Crypto Council for Innovation1 report
    $300K reported (all issues)
  22. WESTERN ALLIANCE BANCORPORATION1 report
    $190K reported (all issues)

Reports filed in 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 10, 2026 · loaded Oct 10, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 10, 2026 · loaded Oct 10, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.