U.S. Congress legislation · 119th Congress
HB3234: Keeping Deposits Local Act
Status: Passed one chamber, May 21, 2026
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.
What the bill says
An act 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.
From the introduced text, May 21, 2026:
AN ACT 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. SECTION 1. Short title This Act may be cited as the Keeping Deposits Local Act . SECTION 2. Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit broker Section 29(i) of the Federal Deposit Insurance Act ( 12 U.S.C. 1831f(i) ) is amended by striking paragraph (1) and inserting the following: (1) In general The sum of the following amounts of reciprocal deposits of an agent institution shall not be considered to be funds obtained, directly or indirectly, by or through a deposit broker: (A) An amount equal to 50 percent of the portion of the total liabilities of the agent institution that is less than or equal to $1,000,000,000. (B) An amount equal to 40 percent of the portion, if any, of the total liabilities of the agent institution that is greater than $1,000,000,000, but less than or equal to $10,000,000,000. (C) An amount equal to 30 percent of the portion, if any, of the total liabilities of the agent institution that is greater than $10,000,000,000, but less than or equal to …
Sponsors
- Tom Emmer (R, HD-006) · primary sponsor
- Joyce Beatty (D, HD-003)
- Dan Meuser (R, HD-009)
- Gwen Moore (D, HD-004)
- Garland Barr (R, HD-KY-6)
- Mike Flood (R, HD-NE-1)
- Roger Williams (R, HD-TX-25)
- Mike Ezell (R, HD-004)
- Pete Sessions (R, HD-017)
- Jared Golden (D, HD-002)
- Jack Bergman (R, HD-001)
- Mike Rogers (R, HD-003)
Latest actions
- : Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- : Motion to reconsider laid on the table Agreed to without objection.
- : 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).
- : 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).
- : Considered as unfinished business. (consideration: CR H3644-3645)
- : DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
- : 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.
- : Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
- : Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- : Placed on the Union Calendar, Calendar No. 314.
Votes
- On Motion to Suspend the Rules and Pass, as Amended (May 20, 2026): 405 yea, 0 nay, passed
Subjects: Bank accounts, deposits, capital, Banking and financial institutions regulation, Finance and Financial Sector
Common questions
- What is HB3234?
- HB3234 is a bill in Congress (119th Congress): Keeping Deposits Local Act.
- What does HB3234 do?
- In its own words: An act 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.
- What is the status of HB3234?
- Passed one chamber as of May 21, 2026. Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (May 21, 2026).
- Who sponsored HB3234?
- Tom Emmer (R, HD-006), with 11 co-sponsors.
- Where is the official record for HB3234?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/3234
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.