Keeping Deposits Local Act
- Introduced May 7
- Committee May 7
- Passed House May 20
- Passed Senate Next
- To President Not yet
- Law Not yet
Companies lobbying on this bill
3 companiesVotes
Member trades
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.
Full summary1 paragraphs
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.)
Library of Congress summary, May 7, 2025
- Introduced in HouseMay 7, 2025
Actions
- SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.May 21, 2026
- HouseMotion to reconsider laid on the table Agreed to without objection.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).May 20, 2026
- HouseConsidered as unfinished business. (consideration: CR H3644-3645)May 20, 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.May 19, 2026
- HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3234.May 19, 2026
- HouseConsidered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)May 19, 2026
- HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.May 19, 2026
- HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-362.Nov 4, 2025
- HousePlaced on the Union Calendar, Calendar No. 314.Nov 4, 2025
- HouseCommittee Consideration and Mark-up Session HeldSep 16, 2025
- HouseOrdered to be Reported (Amended) by the Yeas and Nays: 51 - 0.Sep 16, 2025
All actions14
- HouseIntroduced in HouseMay 7, 2025
- HouseReferred to the House Committee on Financial Services.May 7, 2025
Bill record
Text versions4
- Referred in SenateMay 21, 2026PDF: Referred in Senate
- Engrossed in HouseMay 20, 2026PDF: Engrossed in House
- Reported in HouseNov 4, 2025PDF: Reported in House
- Introduced in HouseMay 7, 2025PDF: Introduced in House
Committees2
- Senate Banking, Housing, and Urban Affairs CommitteeReferred To May 21, 2026
- House Financial Services CommitteeReported By Nov 4, 2025Markup By, Sep 16, 2025Referred To, May 7, 2025
Sponsor and cosponsors11 cosponsors
- Rep. Tom Emmer (R-MN-6)Sponsor, May 7, 2025
- Daniel Meuser (R-PA-9)OriginalJoined May 7, 2025
- Gwen Moore (D-WI-4)OriginalJoined May 7, 2025
- Joyce Beatty (D-OH-3)OriginalJoined May 7, 2025
- Andy Barr (R-KY-6)Joined May 20, 2025
- Mike Flood (R-NE-1)Joined Jul 2, 2025
- Roger Williams (R-TX-25)Joined Jul 2, 2025
- Mike Ezell (R-MS-4)Joined Sep 11, 2025
- Pete Sessions (R-TX-17)Joined Sep 15, 2025
- Jack Bergman (R-MI-1)Joined Sep 18, 2025
- Jared Golden (D-ME-2)Joined Sep 18, 2025
- Mike Rogers (R-AL-3)Joined Nov 4, 2025
Amendments0
No amendments offered
Cost estimates and reports1
- H. Rept. 119-362Committee report
Titles2
- Keeping Deposits Local ActShort Titles from RFS (Referred to Senate) bill text
- 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.Official Title from EH (Engrossed in House) bill text
Subjects3
Related bills1
- H.R. 6955 119th, Related bill Main Street Capital Access Act
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.