Joyce Beatty (D-OH)
Advancing the Mentor-Protégé Program for Small Financial Institutions Act
A Democratic bill with no cosponsors
Last activity — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
In the other chamber's committee
Passed one chamber and has been handed to a committee in the other.
The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.
Its path through Congress
- Introduced
- Passed House voice vote
- In Senate committee
The House by voice vote (members called out yes or no together): no member's position on it was recorded.
What this bill would do
This Act, known as the "Advancing the Mentor-Protege Program for Small Financial Institutions Act," proposes to amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. It seeks to create a "Financial Agent Mentor-Protege Program" within the Department of the Treasury. Under this program, large financial institutions or designated financial agents can serve as mentors to small financial institutions. The goal is to help these smaller entities prepare to perform as financial agents or improve their ability to serve their customers. The Secretary of the Treasury will also be required to conduct annual outreach events and report specific participation data to Congress.
Yes· 3 of 7
- Scored +5
Does this make it easier to run a small business?
The bill establishes a mentorship program specifically designed to help small financial institutions improve their service capacity and prepare to act as financial agents.
- Scored +4
Would business owners be better off under this?
Small financial institution owners stand to benefit from the mentorship and capacity-building program.
- Scored +4
Does this invest in rural communities?
The bill explicitly defines and provides support for rural depository institutions through the mentorship program.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Improved services for customers: The program aims to allow small financial institutions to "improve capacity to provide services to the customers of the small financial institution" (Section 2(a)(1)(B)).
-
Preparedness of small institutions: The program helps small financial institutions "be prepared to perform as a financial agent" (Section 2(a)(1)(A)).
-
Increased outreach and awareness: The Secretary of the Treasury is required to hold outreach events "at least once a year" to encourage participation from various financial institutions (Section 2(a)(2)).
Potential Negative Impacts for People
- Potential for exclusion: The Secretary of the Treasury will establish a process where a financial agent, large financial institution, or small financial institution "may be excluded from participation in the Program" (Section 2(a)(3)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make it easier to run a small business? — The bill establishes a mentorship program specifically designed to help small financial institutions improve their service capacity and prepare to act as financial agents. Does this give people more protection from unfair business practices? — By helping small institutions improve service capacity, the bill may lead to better service for their customers.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires the Secretary to report participation data to Congress, increasing program transparency. Does this give the federal government more power? — The bill expands the role of the Department of the Treasury in overseeing financial institution mentorship.
- Demographic And Interest Groups
- Would business owners be better off under this? — Small financial institution owners stand to benefit from the mentorship and capacity-building program.
- Environment Energy And Infrastructure
- Does this invest in rural communities? — The bill explicitly defines and provides support for rural depository institutions through the mentorship program.
- Social Issues And Justice
- Does this narrow racial gaps in how people are treated? — The inclusion of minority depository institutions as small financial institutions may help advance equity in financial services.
- 5/13/2026
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 5/12/2026
- Motion to reconsider laid on the table Agreed to without objection.
- 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)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3356)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 3709.
- Considered under suspension of the rules. (consideration: CR H3356-3357)
- Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- 7/15/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-205.
- Placed on the Union Calendar, Calendar No. 168.
- 6/10/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1.
- 6/4/2025
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.