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119th Congress Finance and Financial Sector

H.R. 3234: Keeping Deposits Local Act

Passed HouseMay 20, 2026

  1. Introduced (completed)May 7, 2025
  2. Passed House (completed)May 20, 2026, 405–0
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, May 7, 2025

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.)

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, May 20, 2026

On Motion to Suspend the Rules and Pass, as Amended

Passed 405–0

Yea 405two-thirds 270Nay 0

  • Democrats204 yea, 0 nay
  • Republicans200 yea, 0 nay
  • Independents1 yea, 0 nay
See how all 405 members voted

Showing 430 of 430 members

Yea 405

Republicans (200)

Democrats (204)

Independents (1)

Not voting 25

Senate

Not yet voted

Passed the House May 20, 2026. Awaiting Senate action.

Roll calls

1 vote on this bill

Showing 1 of 1 roll calls

  • May 20, 2026HouseOn Motion to Suspend the Rules and Pass, as AmendedFinal passagePassed, yea-nay 405–0
    Roll call 177 tally by party
    PartyYeaNayPresentNot voting
    Democrats204008
    Republicans2000017
    Independents1000
    Total4050025

    House roll call 177: On Motion to Suspend the Rules and Pass, as Amended. Passed.

    How each member voted (430)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

11

Bipartisan support.

Who scored on this bill

112 points earned
  1. 1Tom Emmer R-MN SponsorDrew cross-party cosponsors, introduced, marked up, reported, passed House5 events+68
  2. 2Garland Barr R-KYCosponsored; cosponsored bill passed2 events+4
  3. 2Joyce Beatty D-OHCosponsored; cosponsored bill passed2 events+4
  4. 2Jack Bergman R-MICosponsored; cosponsored bill passed2 events+4
  5. 2Mike Ezell R-MSCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Tom Emmer

History

  1. May 20, 2026Passed the House, 405–0.
  2. May 7, 2025Introduced in the House by Tom Emmer.
Show the full action history (15 actions)
  1. May 21, 2026Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. May 20, 2026Considered as unfinished business. (consideration: CR H3644-3645)
  3. 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).
  4. May 20, 2026On 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).
  5. May 20, 2026Motion to reconsider laid on the table Agreed to without objection.
  6. May 19, 2026Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  7. May 19, 2026Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
  8. May 19, 2026DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
  9. May 19, 2026At 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.
  10. Nov 4, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
  11. Nov 4, 2025Placed on the Union Calendar, Calendar No. 314.
  12. Sep 16, 2025Committee Consideration and Mark-up Session Held
  13. Sep 16, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
  14. May 7, 2025Introduced in House
  15. May 7, 2025Referred to the House Committee on Financial Services.