IB 
Union Calendar No. 168 
119TH CONGRESS 
1ST SESSION H. R. 3709 
[Report No. 119–205] 
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 
JUNE 4, 2025 
Mrs. BEATTY introduced the following bill; which was referred to the 
Committee on Financial Services 
JULY 15, 2025 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on June 4, 2025] 
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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. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Advancing the Mentor- 
Prote´ge´ Program for Small Financial Institutions Act’’. 
SEC. 2. ESTABLISHMENT OF FINANCIAL AGENT MENTOR- 
PROTE´ GE´ PROGRAM. 
(a) IN GENERAL.—Section 308 of the Financial Insti-
tutions Reform, Recovery, and Enforcement Act of 1989 (12 
U.S.C. 1463 note) is amended by adding at the end the fol-
lowing new subsection: 
‘‘(d) FINANCIAL
AGENT
MENTOR-PROTE´GE´
PRO-
GRAM.— 
‘‘(1) IN GENERAL.—The Secretary of the Treas-
ury shall establish a program to be known as the ‘Fi-
nancial Agent Mentor-Prote´ge´ Program’ (in this sub-
section referred to as the ‘Program’) under which a fi-
nancial agent designated by the Secretary or a large 
financial institution may serve as a mentor, under 
guidance or regulations prescribed by the Secretary, 
to a small financial institution to allow such small 
financial institution— 
‘‘(A) to be prepared to perform as a finan-
cial agent; or 
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‘‘(B) to improve capacity to provide services 
to the customers of the small financial institu-
tion. 
‘‘(2) OUTREACH.—The Secretary shall hold out-
reach events to promote the participation of financial 
agents, large financial institutions, and small finan-
cial institutions in the Program at least once a year. 
‘‘(3) EXCLUSION.—The Secretary shall issue 
guidance or regulations to establish a process under 
which a financial agent, large financial institution, 
or small financial institution may be excluded from 
participation in the Program. 
‘‘(4) REPORT.—The Office of Minority and 
Women Inclusion of the Department of the Treasury 
shall include in the report submitted to Congress 
under section 342(e) of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act information 
pertaining to the Program, including— 
‘‘(A) the number of financial agents, large 
financial institutions, and small financial insti-
tutions participating in such Program; and 
‘‘(B) the number of outreach events de-
scribed in paragraph (2) held during the year 
covered by such report. 
‘‘(5) DEFINITIONS.—In this subsection: 
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‘‘(A) FINANCIAL AGENT.—The term ‘finan-
cial agent’ means any national banking associa-
tion designated by the Secretary of the Treasury 
to be employed as a financial agent of the Gov-
ernment. 
‘‘(B) LARGE FINANCIAL INSTITUTION.—The 
term ‘large financial institution’ means any en-
tity regulated by the Comptroller of the Cur-
rency, the Board of Governors of the Federal Re-
serve System, the Federal Deposit Insurance Cor-
poration, or the National Credit Union Adminis-
tration that has total consolidated assets greater 
than or equal to $50,000,000,000. 
‘‘(C) RURAL
DEPOSITORY
INSTITUTION.— 
The term ‘rural depository institution’ means a 
depository institution (as defined in section 3 of 
the Federal Deposit Insurance Act)— 
‘‘(i) with total consolidated assets of 
less than $10,000,000,000; and 
‘‘(ii) located in a rural area, as de-
fined under section 1026.35(b)(2)(iv)(A) of 
title 12, Code of Federal Regulations. 
‘‘(D) SMALL FINANCIAL INSTITUTION.—The 
term ‘small financial institution’ means— 
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