116TH CONGRESS 

2D SESSION H. R. 5315 

AN ACT 

To amend the Financial Institutions Reform, Recovery, and 

Enforcement Act of 1989 to establish a Financial Agent 

Mentor-Prote ́ge ́ Program within the Department of the 

Treasury, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 
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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Expanding Oppor3 tunity for Minority Depository Institutions Act’’ or the 

4 ‘‘Expanding Opportunity for MDIs Act’’. 

5 SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR6 PROTE ́ GE ́ PROGRAM. 

7 (a) IN GENERAL.—Section 308 of the Financial In8 stitutions Reform, Recovery, and Enforcement Act of 

9 1989 (12 U.S.C. 1463 note) is amended by adding at the 

10 end the following new subsection: 

11 ‘‘(d) FINANCIAL AGENT MENTOR-PROTE ́GE ́ PRO12 GRAM.— 

13 ‘‘(1) IN GENERAL.—The Secretary of the 

14 Treasury shall establish a program to be known as 

15 the ‘Financial Agent Mentor-Prote ́ge ́ Program’ (in 

16 this subsection referred to as the ‘Program’) under 

17 which a financial agent designated by the Secretary 

18 or a large financial institution may serve as a men19 tor, under guidance or regulations prescribed by the 

20 Secretary, to a small financial institution to allow 

21 such small financial institution— 

22 ‘‘(A) to be prepared to perform as a finan23 cial agent; or 

24 ‘‘(B) to improve capacity to provide serv25 ices to the customers of the small financial in26 stitution. 
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1 ‘‘(2) OUTREACH.—The Secretary shall hold 

2 outreach events to promote the participation of fi3 nancial agents, large financial institutions, and small 

4 financial institutions in the Program at least once a 

5 year. 

6 ‘‘(3) EXCLUSION.—The Secretary shall issue 

7 guidance or regulations to establish a process under 

8 which a financial agent, large financial institution, 

9 or small financial institution may be excluded from 

10 participation in the Program. 

11 ‘‘(4) REPORT.—The Office of Minority and 

12 Women Inclusion of the Department of the Treasury 

13 shall include in the report submitted to Congress 

14 under section 342(e) of the Dodd-Frank Wall Street 

15 Reform and Consumer Protection Act information 

16 pertaining to the Program, including— 

17 ‘‘(A) the number of financial agents, large 

18 financial institutions, and small financial insti19 tutions participating in such Program; and 

20 ‘‘(B) the number of outreach events de21 scribed in paragraph (2) held during the year 

22 covered by such report. 

23 ‘‘(5) DEFINITIONS.—In this subsection: 

24 ‘‘(A) FINANCIAL AGENT.—The term ‘fi25 nancial agent’ means any national banking as-
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1 sociation designated by the Secretary of the 

2 Treasury to be employed as a financial agent of 

3 the Government. 

4 ‘‘(B) LARGE FINANCIAL INSTITUTION.— 

5 The term ‘large financial institution’ means any 

6 entity regulated by the Comptroller of the Cur7 rency, the Board of Governors of the Federal 

8 Reserve System, the Federal Deposit Insurance 

9 Corporation, or the National Credit Union Ad10 ministration that has total consolidated assets 

11 greater than or equal to $50,000,000,000. 

12 ‘‘(C) SMALL FINANCIAL INSTITUTION.— 

13 The term ‘small financial institution’ means— 

14 ‘‘(i) any entity regulated by the 

15 Comptroller of the Currency, the Board of 

16 Governors of the Federal Reserve System, 

17 the Federal Deposit Insurance Corpora18 tion, or the National Credit Union Admin19 istration that has total consolidated assets 

20 lesser than or equal to $2,000,000,000; or 

21 ‘‘(ii) a minority depository institu22 tion.’’. 
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1 (b) EFFECTIVE DATE.—This Act and the amend2 ments made by this Act shall take effect 90 days after 

3 the date of the enactment of this Act. 

Passed the House of Representatives January 13, 

2020. 

Attest: 

Clerk. 
116TH CONGRESS 

2D SESSION H. R. 5315 

AN ACT 

To amend the Financial Institutions Reform, Rea Financial Agent Mentor-Prote covery, and Enforcement Act of 1989 to establish  ́ge ́ Program withpurposes. in the Department of the Treasury, and for other