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BillHR 3234 · 119

Keeping Deposits Local Act

Introduced
May 7, 2025
Cosponsors
11
Traction
0
Last Action
May 21, 2026

Bill Summary

Allows community banks to keep deposits local by exempting them from certain federal reserve requirements, and Requires these banks to meet specific liquidity standards instead. Funds from these deposits can be used for local lending and investments.

Sponsored By

Tom Emmer
Republican · Minnesota · House

Bill Journey

  1. May 7, 2025
  5. May 21, 2026You Are Here

    If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.

  6. TBD

    If passed by both chambers, the bill goes to the President to sign into law or veto.

Why It Matters

This bill affects community banks and their customers, potentially increasing access to local loans and investments by allowing banks to keep more deposits within their communities. It may also impact local economies by keeping funds local, which can be used for small business loans, mortgages, and other community development projects.

Impact Areas

Sample
Addresses Supply
Targets an underlying shortage driving costs.
Supports Families
Aimed at easing pressure on working households.
Long-term Impact
Effects compound across multiple budget cycles.
Expands Access
Lowers barriers for first-time participants.

Support & Opposition

Sponsor & cosponsor support by party
12backers
  • Democratic3
  • Republican9
Cross-party cosponsors3 · 27%
Latest floor voteMay 20, 2026
405–0

Documents

1

Full text opens on congress.gov, the official source.

Cosponsors (11)

Show all 7 more

Bill Details

Bill TypeHouse Bill · Federal
Primary TopicMoney & Economy
CommitteeCommittee on Banking
IntroducedMay 7, 2025
Last UpdatedMay 21, 2026
Latest ActionReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
  • Economy

Summary and impact analysis written by Judy (KnowGov's enrichment AI). Bill metadata, status, sponsor, and any floor votes from Prism. Sections marked “Sample” are placeholders not yet connected to live data.