I 

116TH CONGRESS 

1ST SESSION H. R. 5315 

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. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 5, 2019 

Mrs. BEATTY (for herself, Mr. MEEKS, Mr. HECK, Mr. GREEN of Texas, and 

Mr. CLEAVER) introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

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, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Expanding Oppor5 tunity for Minority Depository Institutions (MDIs) Act’’. 


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1 SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR2 PROTE ́ GE ́ PROGRAM. 

3 (a) IN GENERAL.—Section 308 of the Financial In4 stitutions Reform, Recovery, and Enforcement Act of 

5 1989 (12 U.S.C. 1463 note) is amended by adding at the 

6 end the following new subsection: 

7 ‘‘(d) FINANCIAL AGENT MENTOR-PROTE ́GE ́ PRO8 GRAM.— 

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

10 Treasury shall establish a program to be known as 

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

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

13 which a financial agent shall serve as a mentor to 

14 a minority depository institution so that such minor15 ity depository institution may become a financial 

16 agent. 

17 ‘‘(2) OUTREACH.—The Secretary shall hold 

18 outreach events to promote the participation of fi19 nancial agents and minority depository institutions 

20 in the Program at least once a year. 

21 ‘‘(3) EXCLUSION.—The Secretary may exclude 

22 financial agents and minority depository institutions 

23 from participation in the Program. 

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

25 Women Inclusion of the Department of the Treasury 

26 shall include in the report submitted to Congress 


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

2 Reform and Consumer Protection Act information 

3 pertaining to the Program, including— 

4 ‘‘(A) the number of financial agents par5 ticipating in such Program; and 

6 ‘‘(B) the number of outreach events de7 scribed in paragraph (2) held during the year 

8 covered by such report. 

9 ‘‘(5) FINANCIAL AGENT DEFINED.—In this sub10 section, the term ‘financial agent’ means any na11 tional banking association selected by the Secretary 

12 of the Treasury to be employed as a financial agent 

13 of the Government in accordance with section 5153 

14 of the Revised Statutes of the United States.’’. 

15 (b) COMMUNITY REINVESTMENT ACT CREDIT.—Sec16 tion 804 of the Community Reinvestment Act of 1977 (12 

17 U.S.C. 2903) is amended by adding at the end the fol18 lowing new subsection: 

19 ‘‘(e) FINANCIAL AGENT MENTOR-PROTE ́GE ́ PRO20 GRAM PARTICIPATION.—In assessing and taking into ac21 count, under subsection (a), the record of a financial insti22 tution, the appropriate Federal financial supervisory agen23 cy shall consider as a factor the financial institution’s par24 ticipation as a mentor financial agent in the Financial 

25 Agent Mentor-Prote ́ge ́ Program of the Department of the 


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1 Treasury (established under section 308(d) of the Finan2 cial Institutions Reform, Recovery, and Enforcement Act 

3 of 1989).’’. 

4 (c) EFFECTIVE DATE.—This Act and the amend5 ments made by this Act shall take effect 90 days after 

6 the date of the enactment of this Act. 

Æ 


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