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H.R. 3234 119th Congress House

Keeping Deposits Local Act

Official title: To amend the Federal Deposit Insurance Act to modify the amount of reciprocal deposits of an insured depository institution that are not considered to be funds… Show full official titleShow less

Official title: To amend the Federal Deposit Insurance Act to modify the amount of reciprocal deposits of an insured depository institution that are not considered to be funds obtained by or through a deposit broker, and for other purposes.

Introduced: May 7, 2025 Introduced by: Tom Emmer Republican · Minnesota See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulation
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 Everywhere this bill has been 14 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 2026
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 20, 2026 · 1:08 PM EDT
Motion to reconsider laid on the table Agreed to without objection.
May 20, 2026 · 1:08 PM EDT
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 0 (Roll no. 177).
May 20, 2026 · 1:04 PM EDT
Considered as unfinished business. (consideration: CR H3644-3645)
May 19, 2026 · 5:02 PM EDT
DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
May 19, 2026 · 5:02 PM EDT
Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
May 19, 2026 · 5:02 PM EDT
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
May 19, 2026 · 5:17 PM EDT
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Nov 4, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
Nov 4, 2025
Placed on the Union Calendar, Calendar No. 314.
Sep 16, 2025
Committee Consideration and Mark-up Session Held
Sep 16, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
May 7, 2025
Referred to the House Committee on Financial Services.
May 7, 2025
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
May 20, 2026 House · vote #177 On Motion to Suspend the Rules and Pass, as Amended Passed 405–0 See who voted →
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What's happening now May 21, 2026

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

 Plain-English summary Congressional Research Service

This bill increases the amount insured depository institutions may accept as reciprocal deposits. (Reciprocal deposits are used by institutions to increase the availability of deposit insurance by splitting large deposits using a reciprocal network of institutions.) The bill creates a tiered system so that the allowable amount is based on the institution's total liabilities.

Additionally, the bill changes certain qualifications insured depository institutions may be required to have to accept reciprocal deposits. Under current law, institutions may qualify by having a composite rating of outstanding or good, among other requirements. The bill allows institutions with a 1, 2, or 3 rating under the CAMELS scale to qualify. (The Uniform Financial Institutions Rating System uses the characteristics of capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (i.e., CAMELS ratings) to rate the health of financial institutions, with a 1 indicating the highest rating and least degree of supervisory concern and a 5 indicating the lowest rating and highest degree of supervisory concern.)

 Hearings & markups 2
 Related & companion bills 1
  • HR 6955 Main Street Capital Access Act
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Lobbying activity 25

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 25 filings →
 Cosponsors 11
All 11 Democratic 3 Republican 8
R
Rogers, Mike D.
Alabama · Nov 4, 2025
 R
Bergman, Jack
Michigan · Sep 18, 2025
 D
Golden, Jared F.
Maine · Sep 18, 2025
 R
Sessions, Pete
Texas · Sep 15, 2025
 R
Ezell, Mike
Mississippi · Sep 11, 2025
 R
Flood, Mike
Nebraska · Jul 2, 2025
 R
Williams, Roger
Texas · Jul 2, 2025
 R
Barr, Andy
Kentucky · May 20, 2025
 D
Beatty, Joyce
Ohio · May 7, 2025
 R
Meuser, Daniel
Pennsylvania · May 7, 2025
 D
Moore, Gwen
Wisconsin · May 7, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3234: Keeping Deposits Local Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-3234/
MLA
"H.R. 3234: Keeping Deposits Local Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-3234/.
Bluebook (legal)
H.R. 3234, 119th Cong. (2026), https://openamerica.io/bill/119-HR-3234/.
Markdown link
[H.R. 3234: Keeping Deposits Local Act](https://openamerica.io/bill/119-HR-3234/)
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