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US HB2702
Bill
Status
Introduced
4/8/2025
Primary Sponsor
Garland Barr
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AI Summary
- Eliminates "reputational risk" as a factor in federal banking agency supervision of depository institutions, including banks and credit unions
- Prohibits federal banking agencies from establishing rules, conducting examinations, issuing findings, making ratings decisions, or taking enforcement actions based on reputational risk
- Requires agencies to remove all references to reputational risk from guidance documents, examination manuals, and similar materials
- Exempts negative publicity related to unlawful transactions with state sponsors of terrorism or foreign terrorist organizations from the reputational risk definition
- Mandates each federal banking agency submit a compliance report to Congress within 180 days of enactment
Legislative Description
FIRM Act Financial Integrity and Regulation Management Act
Finance and financial sector
Last Action
Placed on the Union Calendar, Calendar No. 131.
6/20/2025
Committee Referrals
Financial Services4/8/2025
Full Bill Text
No bill text available