House Floor·Last action 301 days ago

Treasury would launch mentoring program for small banks

Officially: 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.

Where it stands

House Floor · Floor consideration Sat, May 16

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What this bill actually does

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.

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Legislative timeline

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Introduced

Introduced in House

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House Committee

Under House committee consideration

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House Floor Vote

Voted on by House

Latest: Placed on the Union Calendar, Calendar No. 168. (7/15/2025)

JUL 15

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Passed House

Approved by House

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Senate Review

Sent to Senate for consideration

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Passed Both Chambers

Approved by both House and Senate

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Signed into Law

Signed by the President

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Treasury would launch mentoring program for small banks

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