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HR 3709 - 119

Referred in Senate

Advancing the Mentor-Protégé Program for Small Financial Institutions Act

Legislative Intelligence

Provision review

AI-assisted review using LawLinter source context, deterministic text signals, and selected source sections to flag provisions that may deserve human review. This is not a legal conclusion.

Expanded review · Published

The bill establishes a Mentor-Protégé Program for small financial institutions within the Department of the Treasury. The review identified that the bill uses asset-based thresholds (e.g., $50 billion, $10 billion, $2 billion) to define participating institutions, which is standard for financial sector legislation but should be verified by human review to ensure these thresholds align with the intended scope of the program.

Rider risk
Low
Highest severity 20%
Scope alignment
Strong
95% aligned with stated purpose
Coverage
1 / 3
Expanded review coverage
Signal density
Moderate
9 signals across 3 sections
Related

SEC. 2.

SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR-PROTEGE PROGRAM.

Confidence 95% Severity 20%

The section defines the scope of the Mentor-Protégé Program using specific asset-based thresholds for financial institutions. While these dollar amounts are significant, they are used as technical criteria to define eligibility for the program described in the bill summary.

that has total consolidated assets greater than or equal to $50,000,000,000.... with total consolidated assets of less than $10,000,000,000... that has total consolidated assets lesser than or equal to $2,000,000,000
Score and evidence
Deterministic score 23.0 Topic overlap 100%
Summary relation

The section directly implements the program described in the bill summary by establishing definitions and eligibility criteria for participating institutions.

Score inputs
  • statutory reference signal
  • agency signals: 2
  • studies signal
  • spending signals: 3
  • deadline signals: 2
  • topic overlap: program, small, financial, institution, referred
Matched topic terms
programsmallfinancialinstitutionreferredagenttreasuryprovidelargedesignatedprepareimproveservicecapacityperform
AI evidence
  • The dollar amounts are used as definitions for 'large financial institution' and 'rural depository institution' to determine program eligibility.
  • The section aligns with the bill's stated purpose of providing mentorship to small financial institutions.
Counter-evidence
  • These figures are standard regulatory definitions for financial institution size and are not indicative of unrelated spending or riders.
SpendingDeadline
3
Sections
3
Dollar amounts
2
Deadlines and effective dates
May 13, 2026
Text version date

Largest fiscal amounts

$50,000,000,000 1
$10,000,000,000 1
$2,000,000,000 1

Top affected agencies

Secretary of the Treasury shall 1
Secretary of the Treasury to be employed as a 1

Top statutory references

12 U.S.C. 1463 1

Deadline phrases

Effective Date 1
shall take effect 1

Official source

Official PDF

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Structured text

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3709 Referred in Senate (RFS)] 119th CONGRESS 2d Session H. R. 3709 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 13, 2026 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ AN ACT To amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Financial Agent Mentor-Protege Program within the Department of the Treasury, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Sec. 1.

SECTION 1. SHORT TITLE.

SECTION 1. SHORT TITLE. This Act may be cited as the ``Advancing the Mentor-Protege Program for Small Financial Institutions Act''.
Sec. 2.

SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR-PROTEGE PROGRAM.

SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR-PROTEGE PROGRAM. (a) In General.--Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note) is amended by adding at the end the following new subsection: ``(d) Financial Agent Mentor-Protege Program.-- ``(1) In general.--The Secretary of the Treasury shall establish a program to be known as the `Financial Agent Mentor- Protege Program' (in this subsection referred to as the `Program') under which a financial agent designated by the Secretary or a large financial institution may serve as a mentor, under guidance or regulations prescribed by the Secretary, to a small financial institution to allow such small financial institution-- ``(A) to be prepared to perform as a financial agent; or ``(B) to improve capacity to provide services to the customers of the small financial institution. ``(2) Outreach.--The Secretary shall hold outreach events to promote the participation of financial agents, large financial institutions, and small financial institutions in the Program at least once a year. ``(3) Exclusion.--The Secretary shall issue guidance or regulations to establish a process under which a financial agent, large financial institution, or small financial institution may be excluded from participation in the Program. ``(4) Report.--The Secretary shall report to Congress information pertaining to the Program, including-- ``(A) the number of financial agents, large financial institutions, and small financial institutions participating in such Program; and ``(B) the number of outreach events described in paragraph (2) held during the year covered by such report. ``(5) Definitions.--In this subsection: ``(A) Financial agent.--The term `financial agent' means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government. ``(B) Large financial institution.--The term `large financial institution' means any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets greater than or equal to $50,000,000,000. ``(C) Rural depository institution.--The term `rural depository institution' means a depository institution (as defined in section 3 of the Federal Deposit Insurance Act)-- ``(i) with total consolidated assets of less than $10,000,000,000; and ``(ii) located in a rural area, as defined under section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations. ``(D) Small financial institution.--The term `small financial institution' means-- ``(i) any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets lesser than or equal to $2,000,000,000; ``(ii) a minority depository institution; or ``(iii) a rural depository institution.''. (b) Effective Date.--This Act and the amendments made by this Act shall take effect 90 days after the date of the enactment of this Act. Passed the House of Representatives May 12, 2026. Attest: KEVIN F. MCCUMBER, Clerk.
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