Banks could use more reciprocal deposits without having them treated as brokered deposits. That could help local banks keep large customers while still giving those customers full deposit insurance.
Modern Action shows what the legislation would change, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Keeping Deposits Local Act is a Senate bill in committee. The latest recorded action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Latest action on H.R. 3234: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who this affects: This bill mainly affects banks that use reciprocal deposits and large customers that want full deposit insurance. It could matter most for community and regional banks that want to keep cities, businesses, and nonprofits as customers. It also affects federal bank regulators, who would need to apply the new limits and study the risks.
Why this matters: This matters because deposit rules can shape where large customers keep their money. If local banks can keep more insured deposits, they may have more money available for local loans. The change could also affect bank safety if banks rely too much on funding that may move during stress. The required study could help Congress and regulators see the benefits and risks more clearly.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
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Officially: Keeping Deposits Local Act
Banks could use more reciprocal deposits without having them treated as brokered deposits. That could help local banks keep large customers while still giving those customers full deposit insurance.
Use this page to support, oppose, or ask Congress to amend HR3234. Modern Action shows what the bill would change, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
Sitting in Banking
No vote scheduled. Constituent contact is what moves bills out of committee.
↓ Why your message matters here
This bill is sitting in committee with no scheduled vote — which means a small number of constituent messages can decide whether it moves forward or quietly dies.
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The debate
Where this bill is in the process
Introduced
Introduced in House
House Committee
Under House committee consideration
House Floor Vote
Voted on by House
Passed House
Approved by House
Senate Review
Sent to Senate for consideration
Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (5/21/2026)
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
For more detail
Choose one clear position: support, oppose, or amend. Then pick any reasons or personal context you want included. Modern Action uses that input and the bill context to draft a message you can edit and send.
Congressional offices prioritize messages from their own constituents. Modern Action uses your address to route the drafted message to your senators when that is the most relevant target for this bill.
The draft includes the bill number, your position, the reasons you selected, any personal context you added, and a direct ask such as voting yes, voting no, cosponsoring, opposing, or seeking changes. You stay in control because you can edit the message before sending.
This page gives you an opportunity to support, oppose, or ask for changes to Keeping Deposits Local Act, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it would do, where it is in the process (committee), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around HR3234, your stance, and the reasons you choose, then lets you edit and send when ready.
