Treasury program would pair large banks with small ones as mentors
Passed one chamberH.R. 3709Latest action
Sponsor: Joyce Beatty · Representative · OH
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Official title: Advancing the Mentor-Protégé Program for Small Financial Institutions Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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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
What does this do?
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.
Who does it affect?
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.
Why does it matter?
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.
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Where does it stand?
- IntroducedJun 4, 2025
- House committee
- House vote
- SenateYou are here · May 13, 2026
- The president's desk
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.