Keeping Deposits Local Act

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.)

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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

Versions

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

Documents

5 official files

• Referred in Senate

  Referred in Senate · EN · 21 May 2026

  ViewDownloadOpen at official source

• Engrossed in House

  Engrossed in House · EN · 20 May 2026

  ViewDownloadOpen at official source

• Reported in House

  Reported in House · EN · 4 November 2025

  ViewDownloadOpen at official source

• Introduced in House

  Introduced in House · EN · 7 May 2025

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 May 2025

  Open at official source

Sponsors

• Rep. Emmer, Tom [R-MN-6] · R · Sponsor
• Rep. Beatty, Joyce [D-OH-3] · D · Sponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Sponsor
• Rep. Moore, Gwen [D-WI-4] · D · Sponsor
• Rep. Barr, Andy [R-KY-6] · R · Cosponsor
• Rep. Flood, Mike [R-NE-1] · R · Cosponsor
• Rep. Williams, Roger [R-TX-25] · R · Cosponsor
• Rep. Ezell, Mike [R-MS-4] · R · Cosponsor
• Rep. Sessions, Pete [R-TX-17] · R · Cosponsor
• Rep. Golden, Jared F. [D-ME-2] · D · Cosponsor
• Rep. Bergman, Jack [R-MI-1] · R · Cosponsor
• Rep. Rogers, Mike D. [R-AL-3] · R · Cosponsor
• · ssbk00 · Standing
• · hsba00 · Standing

Related records

• related to ← Main Street Capital Access Act