HR 3709 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Advancing the Mentor-Protégé Program for Small Financial Institutions Act
Summary
- The bill establishes a Financial Agent Mentor-Protégé Program in the Department of the Treasury to help small financial institutions improve their capacity
- Large financial institutions (with $50 billion or more in assets) and designated financial agents serve as mentors to small financial institutions in the program
- The Treasury Secretary must hold at least one annual outreach event to promote participation by financial institutions in the program
- The Secretary can establish rules to exclude entities from the program if necessary
- The Secretary must report to Congress annually on the number of participants and outreach events held
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
-
![Rep. Beatty, Joyce [D-OH-3]](https://media.civicgate.org/people/d/politicians/B001281.thumb.jpg)
Rep. Beatty, Joyce (D-OH) [#3]
Money behind the sponsor
Top reported contributors to Joyce Beatty’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- ALIGNMENT GOVERNMENT STRATEGIES $8,000
- APOLLO GLOBAL MANAGEMENT $6,800
- LIMITED BRANDS $6,600
- APOLLO GLOBAL $6,600
- THE OHIO STATE UNIVERSITY $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Joyce Beatty → · Outside spending →
Actions (13)
- May 13, 2026 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- May 12, 2026 Motion to reconsider laid on the table Agreed to without objection. · house
- May 12, 2026 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3356) · house
- May 12, 2026 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3356)
- May 12, 2026 DEBATE - The House proceeded with forty minutes of debate on H.R. 3709. · house
- May 12, 2026 Considered under suspension of the rules. (consideration: CR H3356-3357) · house
- May 12, 2026 Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. · house
- Jul 15, 2025 Placed on the Union Calendar, Calendar No. 168. · house
- Jul 15, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-205. · house
- Jun 10, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1. · house
- Jun 10, 2025 Committee Consideration and Mark-up Session Held · house
- Jun 4, 2025 Referred to the House Committee on Financial Services. · house
- Jun 4, 2025 Introduced in House
More bills on these subjects (8)
Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (4)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Committee action
What happened to this bill in committee — the meetings where it was considered and every recorded vote taken on it.
Meetings where this bill was on the agenda
Full text
AN ACT
To amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Financial Agent Mentor-Protege Program within the Department of the Treasury, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Advancing the Mentor-Protege Program for Small Financial Institutions Act”.
SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR-PROTEGE PROGRAM.
(a) In General.—Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note) is amended by adding at the end the following new subsection:
“(d) Financial Agent Mentor-Protege Program.—
“(1) In general.—The Secretary of the Treasury shall establish a program to be known as the ‘Financial Agent Mentor- Protege Program’ (in this subsection referred to as the ‘Program’) under which a financial agent designated by the Secretary or a large financial institution may serve as a mentor, under guidance or regulations prescribed by the Secretary, to a small financial institution to allow such small financial institution—
“(A) to be prepared to perform as a financial agent; or
“(B) to improve capacity to provide services to the customers of the small financial institution.
“(2) Outreach.—The Secretary shall hold outreach events to promote the participation of financial agents, large financial institutions, and small financial institutions in the Program at least once a year.
“(3) Exclusion.—The Secretary shall issue guidance or regulations to establish a process under which a financial agent, large financial institution, or small financial institution may be excluded from participation in the Program.
“(4) Report.—The Secretary shall report to Congress information pertaining to the Program, including—
“(A) the number of financial agents, large financial institutions, and small financial institutions participating in such Program; and
“(B) the number of outreach events described in paragraph (2) held during the year covered by such report.
“(5) Definitions.—In this subsection:
“(A) Financial agent.—The term ‘financial agent’ means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government.
“(B) Large financial institution.—The term ‘large financial institution’ means any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets greater than or equal to $50,000,000,000.
“(C) Rural depository institution.—The term ‘rural depository institution’ means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act)—
“(i) with total consolidated assets of less than $10,000,000,000; and
“(ii) located in a rural area, as defined under section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations.
“(D) Small financial institution.—The term ‘small financial institution’ means—
“(i) any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets lesser than or equal to $2,000,000,000;
“(ii) a minority depository institution; or
“(iii) a rural depository institution.”.
(b) Effective Date.—This Act and the amendments made by this Act shall take effect 90 days after the date of the enactment of this Act.
Passed the House of Representatives May 12, 2026.
Attest:
Clerk. 119th CONGRESS
2d Session
H. R. 3709
AN ACT
To amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Financial Agent Mentor-Protege Program within the Department of the Treasury, and for other purposes.
Comments