H.R. 3234 · 119th Congress

Keeping Deposits Local Act

Introduced on May 7, 2025 by Tom Emmer (R-MN-6). 11 cosponsors, 3 of them from another party. Latest action (May 21, 2026): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Passed one chamber
Introduced
May 7, 2025
Cosponsors
11
3 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To amend the Federal Deposit Insurance Act to modify the amount of reciprocal deposits of an insured depository institution that are not considered to be funds obtained by or through a deposit broker, and for other purposes.

Subjects

  • Bank accounts, deposits, capital
  • Banking and financial institutions regulation

Summary

By the Congressional Research Service (Introduced in House, May 7, 2025). Public domain.

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.)

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Tom EmmerR-MN-6Sponsor

Democrats · 3

Republicans · 8

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

  1. On Motion to Suspend the Rules and Pass, as Amended
    May 20, 2026· House· Passage· Passed 405–0

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. May 7, 2025Introduced in House
  2. May 7, 2025Introduced in House
  3. May 7, 2025 · HouseReferred to the House Committee on Financial Services.
  4. Sep 16, 2025 · HouseCommittee Consideration and Mark-up Session Held
  5. Sep 16, 2025 · HouseOrdered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
  6. Nov 4, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
  7. Nov 4, 2025 · HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
  8. Nov 4, 2025 · HousePlaced on the Union Calendar, Calendar No. 314.
  9. May 19, 2026 · HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  10. May 19, 2026 · HouseConsidered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
  11. May 19, 2026 · HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
  12. May 19, 2026 · HouseAt 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.
  13. May 20, 2026 · HouseConsidered as unfinished business. (consideration: CR H3644-3645)
  14. May 20, 2026Passed/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).House · Roll call 177
  15. May 20, 2026 · HouseOn 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).House · Roll call 177
  16. May 20, 2026 · HouseMotion to reconsider laid on the table Agreed to without objection.
  17. May 21, 2026 · SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. INDEPENDENT COMMUNITY BANKERS OF AMERICA5 reports
    $7.9M reported (all issues)
  2. New York Bankers Association5 reports
    $253K reported (all issues)
  3. JPMORGAN CHASE HOLDINGS LLC3 reports
    $3.5M reported (all issues)
  4. INDEPENDENT BANKERS ASSOCIATION OF TEXAS2 reports
  5. WESTERN ALLIANCE BANCORPORATION2 reports
    $310K reported (all issues)
  6. HUNTINGTON BANCSHARES INC.1 report
    $170K reported (all issues)

Reports filed in 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 5, 2026 · loaded Oct 5, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.