Lawmakers Introduce House Version of FIRM Act
Posted: Apr 16 2025
Reps. Andy Barr (R-Ky.) and Ritchie Torres (D-N.Y.) have introduced the House version of the Financial Integrity and Regulation Management Act, which would remove reputational risk as a component in bank supervision. The Senate version of the bill is sponsored by Senate Banking Committee Chairman Tim Scott (R-S.C.). In a statement, Barr and Torres said the FIRM Act ensures that banking supervision remains focused on legitimate financial risks, “not political agendas.”