Bill · H.R. 3709· House(119-HR-3709)
Advancing the Mentor-Protégé Program for Small Financial Institutions Act
- Introduced
- 6/4/2025
- Last activity
- 5/13/2026 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Joyce Beatty
- Cosponsors
- None
- Introduced
- Passed House
- In Senate committee
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
Does this make it easier to run a small business?+5
The bill establishes a mentorship program specifically designed to help small financial institutions improve their service capacity and prepare to act as financial agents.
Would business owners be better off under this?+4
Small financial institution owners stand to benefit from the mentorship and capacity-building program.
Does this invest in rural communities?+4
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. Hover a score for the reason it gave.
- Economy And Finance
- Improves Small Business Support+5Improves Consumer Protection+3
- Governance And Ideology
- Improves Government Transparency+3Increases Federal Power+2
- Demographic And Interest Groups
- Good For Business Owners+4
- Environment Energy And Infrastructure
- Improves Rural Development+4
- Social Issues And Justice
- Improves Racial Equity+3
- 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.