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Keeping Deposits Local Act (HR-3234) · Congress.wiki

Recorded Votes

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Text Versions

Reported in House

November 4, 2025•6 pages

Introduced in House

May 7, 2025•3 pages

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Amendments

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Related Legislation

Sponsors (12)

Committee Meetings (2)

Various Measures

Committee on Financial ServicesRayburn House Office Building, 2128Sep 16, 2025 at 2:00 PM

Promoting the Health of the Banking Sector: Reforming Resolution and Broadening Funding Access for Long-Term Resilience

Committee on Financial ServicesRayburn House Office Building, 2128Sep 9, 2025 at 6:00 PM

House Votes

Pending Committee

May 7, 2025

Referred to the House Committee on Financial Services.

Senate Votes

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Presidential Signature

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United StatesHouse Bill 3234HR 3234

Keeping Deposits Local Act

Finance and Financial Sector

6 pages

house

senate

president

Introduced May 7, 2025 by Thomas Earl Emmer · Last progress May 7, 2025

AI Summary

Arkansasrepresentative·

French Hill

Finance and Financial Sector

Main Street Capital Access Act

house
senate
president

32 cosponsors·Updated 3/10/2026·Last progress January 7, 2026

Changes the FDIC rules for how reciprocal deposits placed through agent institutions are treated for brokered-deposit purposes by creating three liability-based tiers that exempt portions of an agent’s reciprocal deposits from being classified as brokered. It also broadens which banks can qualify as an "agent institution" by allowing institutions with CAMELS-equivalent ratings of 1, 2, or 3 to qualify. Finally, it requires the FDIC, working with the Federal Reserve, to study reciprocal-deposit usage and risks since 2018 and report findings to congressional banking committees within six months of enactment.