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Support for Small Banks: Mentorship Program for Better Financial Services

A new law establishes a program allowing small financial institutions to learn from larger banks. This will better prepare small banks to serve as government financial agents and improve their customer service. Citizens may benefit from better access and quality of financial services from smaller, local institutions.
Key points
A mentorship program for small financial institutions will be established by the Department of the Treasury.
Larger banks will assist smaller ones in preparing to act as government financial agents and improving customer service.
The program aims to enhance the capabilities of small banks, potentially leading to better services for local communities.
The Department of the Treasury will regularly report to Congress on the program's progress and participants.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3709
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Process start date: 2025-06-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Advancing the Mentor-Protégé Program for Small Financial Institutions Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3709.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-06-04.

What are the main provisions?

Key points include:

  • A mentorship program for small financial institutions will be established by the Department of the Treasury.
  • Larger banks will assist smaller ones in preparing to act as government financial agents and improving customer service.
  • The program aims to enhance the capabilities of small banks, potentially leading to better services for local communities.
  • The Department of the Treasury will regularly report to Congress on the program's progress and participants.
What is the specific legal status?

The current status is Placed on Calendar.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Beatty, Joyce [D-OH-3].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 168.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy