HR 3709
Passed a chamber
Requires the Treasury Department to create a voluntary program in which large banks and designated financial agents mentor smaller banks, credit unions, and minority or rural depository institutions.
Official title: Advancing the Mentor-Protégé Program for Small Financial Institutions Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
04-JUN-2025
Referred
04-JUN-2025
Approved by committee
10-JUN-2025
Reported
15-JUL-2025
On the calendar
15-JUL-2025
Passed
12-MAY-2026
Senate
Received
13-MAY-2026
- Directs the Secretary of the Treasury to establish the Financial Agent Mentor-Protege Program under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
- Lets a designated financial agent or a large financial institution (at least $50 billion in consolidated assets) mentor a small financial institution to prepare it to serve as a financial agent or to improve its customer services.
- Requires Treasury to hold outreach events at least once a year, set up a process to exclude participants, and report to Congress on participation and outreach events.
- Takes effect 90 days after enactment.
Covers an older version. The newest CRS summary describes the bill as of "Reported to House" (15-JUL-2025); the text has changed since (Engrossed in House, 12-MAY-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govFinance and Financial Sector
No cosponsors.