The evolution of hysteresis and magnetoresistive properties of exchange-coupled Fe20Ni80/Tb–Co bilayers with modified interface was investigated in the temperature range from 79 to 450 K. Exchange bias field was shown to decrease monotonously with increasing temperature, demonstrating a very similar behavior for unmodified films and samples with ultrathin Ti spacer or selectively annealed permalloy layer. The observed dependence, therefore, is mostly attributed to the changes of the Tb–Co layer’s magnetization and magnetic anisotropy. Anisotropic magnetoresistance (AMR) value measured on all samples shown typical for the permalloy alloy reduction at higher temperatures regardless of the sample’s type. A simultaneous decrease of the exchange bias field and the value of the AMR effect was shown to open the possibility for the compensation of the temperature dependence of the medium’s response to the application of the external magnetic field.