H.R. 3709 · Passed House · Finance and Financial Sector

Advancing the Mentor-Protégé Program for Small Financial Institutions Act

Sponsor: Joyce Beatty (D-OH)

What it does

• Establish a Financial Agent Mentor-Protégé Program within the Department of the Treasury.
• Pair minority, rural, and small depository institutions with mentors from larger financial institutions or Treasury-designated financial agents.
• Support protégé institutions in improving service capacity or qualifying as federal financial agents.

Official summary

Advancing the Mentor-Protégé Program for Small Financial Institutions Act This bill establishes the Financial Agent Mentor-Protégé Program within the Department of the Treasury. The program provides participating minority and rural depository institutions and small financial institutions with mentorship from large financial institutions or from financial agents designated by Treasury. This mentorship prepares protégé institutions to improve service capacity or to perform as financial agents for the federal government.

Latest action

May 13, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs