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H.R. 3234Passed House

Keeping Deposits Local Act

Introduced: May 7, 2025

Latest action date: May 21, 2026

Latest development

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

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Congress
119th Congress
Introduced
May 7, 2025
Recorded roll calls
1

Status detail: The full action history records passage in the House.

Plain-language overview

What this bill 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.

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.)

Official summary from Congress.gov.

Civixly topics

What this legislation is about

Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.

Official CRS policy area

Finance and Financial Sector

View 2 official legislative subjects
Bank accounts, deposits, capitalBanking and financial institutions regulation

Committee activity

Committees and subcommittees that received, reviewed, marked up, or reported this legislation.

Amendments

Proposed changes to this measure, with their latest official outcome or action from Congress.gov.

No amendments are listed for this measure.

Checked against Congress.gov Oct 15, 2026.

Action timeline

Newest action first. Action language comes from the official Congress.gov record.

View full action timeline17 actions
  1. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    IntroReferralSenate
  2. Motion to reconsider laid on the table Agreed to without objection.

    FloorHouse floor actions
  3. 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).

    FloorHouse floor actions
  4. 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).

    FloorLibrary of Congress
  5. Considered as unfinished business. (consideration: CR H3644-3645)

    FloorHouse floor actions
  6. 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.

    FloorHouse floor actions
  7. DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.

    FloorHouse floor actions
  8. Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)

    FloorHouse floor actions
  9. Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.

    FloorHouse floor actions
  10. Placed on the Union Calendar, Calendar No. 314.

    CalendarsHouse floor actions
  11. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

    CommitteeHouse floor actions
  12. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

    CommitteeLibrary of Congress
  13. Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

    CommitteeHouse committee actions
  14. Committee Consideration and Mark-up Session Held

    CommitteeHouse committee actions
  15. Introduced in House

    IntroReferralLibrary of Congress
  16. Referred to the House Committee on Financial Services.

    IntroReferralHouse floor actions
  17. Introduced in House

    IntroReferralLibrary of Congress

Roll-call votes

Recorded House and Senate votes connected to this bill. Your representatives appear first when available.

PassedMay 20, 2026House · Roll call 177

On Motion to Suspend the Rules and Pass, as Amended

405 Yea25 Not Voting
View 430 recorded positions
Angie CraigNot Voting
Barry MooreNot Voting
Carol D. MillerNot Voting
Chip RoyNot Voting
Elijah CraneNot Voting
Gary J. PalmerNot Voting
Joaquin CastroNot Voting
Julie JohnsonNot Voting
Mike EzellNot Voting
Nancy MaceNot Voting
Richard E. NealNot Voting
Sam GravesNot Voting
Steve CohenNot Voting
Thomas MassieNot Voting

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Sources: Congress.gov and official House and Senate vote records.

View data freshness details

Base metadata check pending · Civixly summary check pending · Action timeline checked Oct 15, 2026 · Complete sponsorship check pending · Topics checked Oct 15, 2026 · Committees checked Oct 15, 2026 · Status checked Oct 15, 2026 · Related bills checked Oct 15, 2026.