,,ii  #aai? ,,congress  #a/ ,session    
,s4 #hge  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #f1 #bjbe ,mr4    
,scott ( ,s\? ,c>ol9a 7= himself1 ,mr4  
,crapo1 ,mr4 ,r\nds1 ,mr4 ,tillis1 ,mr4 
,k5n$y1 ,mr4 ,hag]ty1 ,ms4 ,lummis1     
,mrs4 ,britt1 ,mr4 ,ricketts1 ,mr4      
,cram]1 ,mr4 ,mor5o1 ,mr4 ,mc,cormick1 &
 ,mr4 ,banks7 introduc$ ! foll[+ bill2  
:i* 0 read twice & ref]r$ to !          
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,a ,,bill  ,to curtail !      
political weaponization ( ,f$]al bank+  
ag5cies by elim9at+ reputational risk z 
a compon5t ( ! sup]vision ( depository  
in/itutions4  #a4 ,%ort title ,?is ,act 
may be cit$ z ! ,f9ancial ,integrity &  
,regulation ,managem5t ,act or ! ,,firm 
,act4  #b4 ,f9d+s2 purposes  7a7 ,f9d+s 
,congress f9ds t--  7#a7 ! prim>y       
objective ( f9ancial regulation &       
sup]vision by ! ,f$]al bank+ ag5cies is 
to promote safety & s\ndness (          
depository in/itutions2  7#b7 all       
f$]ally legal bus9esses & law-abid+     

citiz5s reg>dless ( political ideology  
%\ld h equal opportunity to obta9       
f9ancial s]vices & %\ld n face unlawful 
discrim9ation 9 obta9+ su* s]vices2     
7#c7 f9ancial s]vice provid]s are       
private entities entitl$ to provide     
s]vices to :i*ev] cu/om]s !y s *oose1   
provid$ t ^? decisions d n violate !    
law2  7#d7 f9ancial s]vice provid]s %\ld
 /rive to ensure t all bus9ess decisions
 are bas$ on factors free f unlawful    
prejudice or political influ5ce2  7#e7 !
 use ( reputational risk 9 sup]visory   
frameworks enc\rages ,f$]al bank+       
ag5cies to regulate depository          
in/itutions bas$ on ! subjective view ( 
negative publicity & provides cov] = !  
ag5cies to implem5t _! own political    
ag5da unrelat$ to ! safety & s\ndness ( 
a depository in/itution2  7#f7 ,f$]al   
bank+ ag5cies h 9 fact us$ reputational 
risk to limit access ( f$]ally legal    
bus9esses & law-abid+ citiz5s to        
f9ancial s]vices 9 #bjah :5 ! ,f$]al    
,deposit ,insurance ,corporation        

ackn[l$g$ t ! ag5cy us$ reputational    
risk reviews to limit access to f9ancial
 s]vices by c]ta9 indu/ries1 commonly   
kn[n z ,op]ation ,*oke ,po9t2 &  7#g7   
reputational risk does n appe> 9 any    
/atute & is an unnecess>y & improp] use 
( sup]visory au?ority t does n          
contribute to ! safety & s\ndness ( !   
f9ancial sy/em4  #c4 ,def9itions ,9 ?is 
,act3  7#a7 ,depository in/itution ,!   
t]m depository in/itution-- 7,a7 has !  
mean+ giv5 ! t]m 9 section #c ( ! ,f$]al
 ,deposit ,insurance ,act 7#ab ,u4,s4,c4
 #ahac72 &  7,b7 includes an insur$     
cr$it union4  7#b7 ,f$]al bank+ ag5cy ,!
 t]m ,f$]al bank+ ag5cy--  7,a7 has !   
mean+ giv5 ! t]m 9 section #c ( ! ,f$]al
 ,deposit ,insurance ,act 7#ab ,u4,s4,c4
 #ahac72 &  7,b7 includes--  7i7 !      
,national ,cr$it ,union ,adm9i/ration2 &
  7ii7 ! ,bureau ( ,consum] ,f9ancial   
,protection4  7#c7 ,insur$ cr$it union  
,! t]m insur$ cr$it union has ! mean+   
giv5 ! t]m 9 section #aja ( ! ,f$]al    
,cr$it ,union ,act 7#ab ,u4,s4,c4       

#ageb74  7#d7 ,reputational risk ,! t]m 
reputational risk means ! pot5tial t    
negative publicity or negative public   
op9ion reg>d+ an in/itution's bus9ess   
practices1 :e!r true or n1 w cause a    
decl9e 9 confid5ce 9 ! in/itution or a  
decl9e 9 ! cu/om] base1 co/ly           
litigation1 or rev5ue r$uctions or      
o!rwise adv]sely impact ! depository    
in/itution4  #d4 ,removal ( reputational
 risk z a consid]ation 9 ! sup]vision ( 
depository in/itutions ,ea* ,f$]al bank+
 ag5cy %all remove f any guidance1 rule1
 exam9ation manual1 or simil> docum5t   
e/abli%$ by ! ag5cy any ref]5ce to      
reputational risk1 or any t]m           
sub/antially simil>1 reg>d+ ! sup]vision
 ( depository in/itutions su* t         
reputational risk1 or any t]m           
sub/antially simil>1 is no long] tak5   
into consid]ation by ! ,f$]al bank+     
ag5cy :5 exam9+ & sup]vis+ a depository 
in/itution4  #e4 ,prohibition ,no ,f$]al
 bank+ ag5cy may engage 9 any activity  
conc]n+ or relat$ to ! regulation1      

sup]vision1 or exam9ation1 ( !          
reputational risk1 or any t]m           
sub/antially simil>1 or ! managem5t     
!re(1 ( a depository in/itution1        
includ+--  7#a7 e/abli%+ any rule1      
regulation1 requirem5t1 /&>d1 or        
sup]visory expectation conc]n+ or relat$
 to ! reputational risk1 or any t]m     
sub/antially simil>1 or ! managem5t     
!re(1 ( a depository in/itution :e!r    
b9d+ or n2  7#b7 conduct+ any           
exam9ation1 assessm5t1 data collection1 
or o!r sup]visory ex]cise conc]n+ or    
relat$ to reputational risk1 or any t]m 
sub/antially simil>1 or ! managem5t     
!re(1 ( a depository in/itution2  7#c7  
issu+ any exam9ation f9d+1 sup]visory   
criticism1 or o!r sup]visory or         
exam9ation communication conc]n+ or     
relat$ to reputational risk1 or any t]m 
sub/antially simil>1 or ! managem5t     
!re(1 ( a depository in/itution2  7#d7  
mak+ any sup]visory rat+s decision or   
det]m9ation t is bas$1 9 :ole or 9 "p1  
on any matt] conc]n+ or relat$ to       

reputational risk1 or any t]m           
sub/antially simil>1 or ! managem5t     
!re(1 ( a depository in/itution2 &  7#e7
 tak+ any =mal or in=mal en=cem5t action
 t is bas$1 9 :ole or 9 "p1 on any matt]
 conc]n+ or relat$ to reputational risk1
 or any t]m sub/antially simil>1 or !   
managem5t !re(1 ( a depository          
in/itution4  #f4 ,reports ,n lat] ?an   
#ahj days aft] ! date ( enactm5t ( ?is  
,act1 ea* ,f$]al bank+ ag5cy %all submit
 to ! ,committee on ,bank+1 ,h\s+1 &    
,urban ,affairs ( ! ,s5ate & !          
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives a report t--    
7#a7 confirms implem5tation ( ?is ,act2 
&  7#b7 describes any *anges made to    
int]nal policies z a result ( ?is ,act4