H.R. 3234 · 119th Congress · 2025–2026
Keeping Deposits Local Act
H.R. 3234 in the 119th Congress (2025–2026) has passed the house — introduced on May 7, 2025, sponsored by Tom Emmer with 11 co-sponsors. Congress held 1 roll call vote on it.
During the 119th Congress (2025–2026), Donald Trump was president, and Republicans held majorities in both the House and Senate.
- Status
- Passed the House
- Introduced
- May 7, 2025
- Co-sponsors
- 11
- Policy area
- Finance and Financial Sector
- Groups that lobbied
- 6
What it does
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.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Tom Emmer (R-MN). Co-sponsors: 3 Democrats, 8 Republicans.
Where it stands
- IntroducedMay 7, 2025
- Passed the HouseMay 20, 2026
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (May 21, 2026)
How Congress voted
- On Motion to Suspend the Rules and Pass, as Amended
House · May 20, 2026 · Passed405–0
Every roll call vote on this bill
- Keeping Deposits Local ActHouse · May 20, 2026
More bills from Tom Emmer in the 119th Congress
Other Finance and Financial Sector bills in the 119th Congress
- S.J.Res. 18: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection…
- S.J.Res. 28: A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection…
- S.J.Res. 13: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United…
- S. 1582: Guiding and Establishing National Innovation for U.S. Stablecoins Act
- H.R. 2808: Homebuyers Privacy Protection Act
- S. 3424: Bankruptcy Administration Improvement Act of 2025
- S. 100: Repealing Big Brother Overreach Act
- S.J.Res. 141: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United…
- H.J.Res. 160: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the…
- H.J.Res. 161: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the…
Who lobbied on it
6 organizations named this bill in lobbying reports (Jul 2025 – Sep 2026). Biggest spenders among them:
Committees
- Banking, Housing, and Urban Affairs Committee
- Financial Services Committee
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 3234 (119th Congress): Keeping Deposits Local Act,” https://www.capitolreceipts.com/bill/119-hr-3234/keeping-deposits-local-act (accessed 2026-10-15).