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H.R. 3709119th CongressPassed one chamberLatest action May 13, 2026Decoded by AI · checked against the record
Official title: Advancing the Mentor-Protégé Program for Small Financial Institutions Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
H.R. 3709 creates a Treasury mentorship program linking large banks with small, minority-owned, or rural institutions.
40-second read · 4 questions answered below
H.R. 3709 would establish a "Financial Agent Mentor-Protégé Program" at the Treasury Department, allowing large financial institutions or existing financial agents to mentor small financial institutions. The goal is to help smaller institutions build capacity to become financial agents or improve their customer services. The Treasury would hold yearly outreach events and set rules for excluding non-compliant participants.
The bill affects banks and credit unions, especially small, minority-owned, or rural institutions with $2 billion or less in assets, and large institutions with $50 billion or more in assets that could serve as mentors.
The program could reshape relationships between large and small financial institutions and add new reporting and outreach requirements for the Treasury. It does not directly change rules or services for individual consumers.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.