Contact Congress about H.R. 3709: Advancing the Mentor-Protégé Program for Small Financial Institutions Act

Small banks and similar institutions could get help from larger banks and current Treasury partners. The goal is to help them compete for federal banking work or improve service for their own customers. Treasury would also track participation and hold yearly outreach events.

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Advancing the Mentor-Protégé Program for Small Financial Institutions 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. 3709: 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 small financial institutions that may want help building capacity or competing for Treasury-related work. It also affects large banks and current Treasury financial agents that could take on mentor roles. Treasury officials would have to run the program, hold outreach events, decide exclusion rules, and report results to Congress.

Why this matters: This bill matters because smaller and less-connected financial institutions may have a harder time building the systems, experience, and relationships needed for federal banking work. This program tries to close that gap by pairing them with bigger or more experienced institutions. If it works, more banks could be ready to do Treasury-related work and some local communities could benefit from stronger small or rural institutions. But the real effect will depend on how many institutions join and how Treasury runs the program.

Key provisions in H.R. 3709

• Treasury would have to create a Financial Agent Mentor-Protege Program. The program would be added to existing banking law under FIRREA Section 308.
• Large banks and banks that Treasury already uses as financial agents could mentor smaller institutions. A large bank means one with at least $50 billion in assets.
• The mentoring could help a small institution get ready to do federal financial agent work. It could also help that institution build more capacity to serve its own customers.
• The bill uses a broad definition of small financial institution. It includes institutions with $2 billion or less in assets, all minority depository institutions, and certain rural depository institutions.
• Some rural banks could qualify even if they are much bigger than $2 billion. They must have under $10 billion in assets and be located in a federally defined rural area.

How Modern Action helps you take action on H.R. 3709

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.

Questions people ask about H.R. 3709

What is H.R. 3709?

Small banks and similar institutions could get help from larger banks and current Treasury partners. The goal is to help them compete for federal banking work or improve service for their own customers. Treasury would also track participation and hold yearly outreach events.

How do I support or oppose H.R. 3709?

Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.

Who should I contact about H.R. 3709?

Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.

How does Modern Action help me act on H.R. 3709?

Modern Action gives you bill-specific context, lets you choose support, opposition, or changes, and drafts a message from your position and reasons.