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Bill · HR

H.R. 3234 (119th)

Keeping Deposits Local Act

Original

referredUnited States· United States Congress· EN

Introduced

7 May 2025

Last action

21 May 2026 · Introduced

Status

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

Sponsors

Tom Emmer, Joyce Beatty, Rep. Meuser, Daniel [R-PA-9], Rep. Moore, Gwen [D-WI-4], Rep. Barr, Andy [R-KY-6], Mike Flood, Roger Williams, Rep. Ezell, Mike [R-MS-4], Pete Sessions, Jared Golden, Jack Bergman, Mike Rogers

Subjects

Healthcare, Finance and Financial Sector

Source updated

17 July 2026

Healthcare · Finance and Financial Sector

Official sourceDownload fileView documentsShare

Summary

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.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 7 May 2025

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 7 May 2025

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 7 May 2025

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 16 September 2025

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

    Source: Committee

  5. 16 September 2025

    Committee

    Committee Consideration and Mark-up Session Held

    Source: Committee

  6. 4 November 2025

    Calendars

    Placed on the Union Calendar, Calendar No. 314.

    Source: Calendars

  7. 4 November 2025

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

    Source: Committee

  8. 4 November 2025

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

    Source: Committee

  9. 19 May 2026

    Vote

    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.

    Source: Floor

  10. 19 May 2026

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.

    Source: Floor

  11. 19 May 2026

    Floor

    Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)

    Source: Floor

  12. 19 May 2026

    Floor

    Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  13. 20 May 2026

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  14. 20 May 2026

    Vote

    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).

    Source: Floor

  15. 20 May 2026

    Vote

    Passed/agreed to in House: 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).

    Source: Floor

  16. 20 May 2026

    Floor

    Considered as unfinished business. (consideration: CR H3644-3645)

    Source: Floor

  17. 21 May 2026

    Introduced

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

    Source: IntroReferral

Votes

20 May 2026 · passed · On Motion to Suspend the Rules and Pass, as Amended · Passed · Official source

Yes 405 · No 0 · Abstain — · Absent/not voting 25

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

5 official files

Sponsors

Related records

Sources

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