Keeping Deposits Local Act

Sponsored byRep. Emmer, Tom [R-MN-6]MN· Introduced 7 May 2025

Open on Congress.gov

Cosponsors

Actions

Amendments

Committees

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Since introduced

Introduced

Committee

Passed Chamber

Passed Both

Enacted

Step 1 of 0

Latest action

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

21 May 2026·2 months ago

Summary

Introduced in House · Updated 15 December 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.)

Timeline

17 actions

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

Sponsorship

11 cosponsors

Sponsor

Rep. Emmer, Tom [R-MN-6]MN

Cosponsors

Democrat327%
Republican873%

Republican:Rep. Rogers, Mike D. [R-AL-3]AL
Republican:Rep. Bergman, Jack [R-MI-1]MI
Democrat:Rep. Golden, Jared F. [D-ME-2]ME
Republican:Rep. Sessions, Pete [R-TX-17]TX
Republican:Rep. Ezell, Mike [R-MS-4]MS
Republican:Rep. Williams, Roger [R-TX-25]TX
Republican:Rep. Flood, Mike [R-NE-1]NE
Republican:Rep. Barr, Andy [R-KY-6]KY
Republican:Rep. Meuser, Daniel [R-PA-9]PA
Democrat:Rep. Beatty, Joyce [D-OH-3]OH
Democrat:Rep. Moore, Gwen [D-WI-4]WI

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Bank accounts, deposits, capitalBanking and financial institutions regulation

Committees

Financial Services Committee
House · Standing
- Referred To7 May 2025
- Markup By16 Sept 2025
- Reported By4 Nov 2025
Banking, Housing, and Urban Affairs Committee
Senate · Standing
- Referred To21 May 2026

Reports

H. Rept. 119-362

Cosponsor momentum

Cumulative over time

Track Keeping Deposits Local Act as it moves through Congress