HOUSE 3234119th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Keeping Deposits Local Act

Last Action: 5/21/2026

Actions

2026-05-21Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2026-05-20Motion to reconsider laid on the table Agreed to without objection.
2026-05-20On 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).
2026-05-20Passed/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).
2026-05-20Considered as unfinished business. (consideration: CR H3644-3645)
2026-05-19At 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.
2026-05-19DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
2026-05-19Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
2026-05-19Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
2025-11-04Placed on the Union Calendar, Calendar No. 314.
2025-11-04Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
2025-11-04Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
2025-09-16Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
2025-09-16Committee Consideration and Mark-up Session Held
2025-05-07Referred to the House Committee on Financial Services.

Showing 15 of 17 actions. Full history on Congress.gov.

CRS Summary

As of 2025-05-07 (00)

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.)

Cosponsors (11)

Joyce Beatty (D-OH)
Daniel Meuser (R-PA)
Gwen Moore (D-WI)
Andy Barr (R-KY)
Mike Flood (R-NE)
Roger Williams (R-TX)
Mike Ezell (R-MS)
Pete Sessions (R-TX)
Jared Golden (D-ME)
Jack Bergman (R-MI)
Mike Rogers (R-AL)

Subjects

Bank accounts, deposits, capital
Banking and financial institutions regulation

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