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House bill · H.R. 3234 (119th Congress)

Keeping Deposits Local Act

U.S. House of Representatives

Latest action May 21, 2026

Sponsor: Tom Emmer (U.S. Representative, MN-6, Republican)

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From Congress.gov and official rosters. This record was last updated Aug 3, 2026. About our data

Summary

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.)

Summary from the Congressional Research Service. How we handle summaries

Where it stands

Passed one of the two chambers; it still needs the other.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

House Committee on Financial Services · U.S. House of Representatives

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Cosponsors

11

Cosponsors listed on Congress.gov, shown A to Z.

  • Republican8
  • Democratic3

This bill has cosponsors from more than one party.

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Recorded votes

  • Vote: On Motion to Suspend the Rules and Pass, as Amended

    U.S. HouseMay 20, 2026Result: Passed

    (405) (0) (0) (25)

Related bills

As identified by Congress.gov.

Full history

  1. May 21, 2026

    In committee

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    U.S. House

  2. May 21, 2026

    Sent to the executive

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    U.S. Senate

  3. May 20, 2026

    Considered as Unfinished business. (consideration: cr H3644-3645)

    Considered as unfinished business. (consideration: CR H3644-3645)

  4. May 20, 2026

    Considered as Unfinished business. (consideration: cr H3644-3645)

    Considered as unfinished business. (consideration: CR H3644-3645)

  5. May 20, 2026

    Considered as Unfinished business. (consideration: cr H3644-3645)

    Considered as unfinished business. (consideration: CR H3644-3645)

Show full history (23 earlier events)
  1. May 20, 2026

    Passed a chamber

    Motion to reconsider laid on the table Agreed to without objection.

  2. May 20, 2026

    Passed a chamber

    Motion to reconsider laid on the table Agreed to without objection.

  3. May 20, 2026

    Passed a chamber

    Motion to reconsider laid on the table Agreed to without objection.

  4. May 20, 2026

    Passed a chamber

    Passed/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).

    U.S. House of Representatives

  5. May 19, 2026

    At 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.

    At 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.

  6. May 19, 2026

    At 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.

    At 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.

  7. May 19, 2026

    At 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.

    At 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.

  8. May 19, 2026

    Debate - the House Proceeded With Forty Minutes of Debate on H.R. 3234.

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.

    U.S. House of Representatives

  9. Nov 4, 2025

    Placed on the Union Calendar, Calendar No. 314.

  10. Nov 4, 2025

    Placed on the Union Calendar, Calendar No. 314.

  11. Nov 4, 2025

    Placed on the Union Calendar, Calendar No. 314.

  12. Nov 4, 2025

    Reported out of committee

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

  13. Nov 4, 2025

    Reported out of committee

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

  14. Nov 4, 2025

    Reported out of committee

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

  15. Sep 16, 2025

    Committee vote

    Committee Consideration and Mark-up Session Held

  16. Sep 16, 2025

    Committee vote

    Committee Consideration and Mark-up Session Held

  17. Sep 16, 2025

    Committee vote

    Committee Consideration and Mark-up Session Held

  18. Sep 16, 2025

    Reported out of committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

  19. Sep 16, 2025

    Reported out of committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

  20. Sep 16, 2025

    Reported out of committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

  21. May 7, 2025

    Introduced

    Introduced in House

    U.S. House of Representatives

  22. May 7, 2025

    Introduced

    Introduced in U.S. House

    U.S. House

  23. May 7, 2025

    Referred to committee

    Referred to the House Committee on Financial Services.

    U.S. House of Representatives

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