H.R. 3234Keeping Deposits Local Act

1 recorded actionWhat the measure does Read on Congress.gov

Sponsor: Tom Emmer [R-MN-06]
Cosponsors: 11 · 8 Republicans · 3 Democrats
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Latest action: May 21, 2026 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedMay 7, 2025
Passed the HouseMay 20, 2026
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

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.)

Written by the nonpartisan Congressional Research Service, describing H.R. 3234 as introduced in House on May 7, 2025. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 177

House May 20, 2026

On Motion to Suspend the Rules and Pass, as Amended

Keeping Deposits Local Act

Passed · Two-thirds required

405 Yea 0 Nay 25 not voting

Crossed both parties No voting member broke with their own party.

Open the official roll call

How the chamber split

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DemocratsIndependentsRepublicansFilled: YeaRing: NayGrey: not voting or present

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All members430 members

Democratic212 members

Independent1 member

Republican217 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Cosponsors11 · 8 Republicans · 3 Democrats

Signing on is not a vote: a member can cosponsor H.R. 3234 and vote against it. 3 signed when it was filed.

Loading the public record

H.R. 3234Keeping Deposits Local Act

What the measure doesCRS summary

How every member votedHouse roll call 177

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

Cosponsors11 · 8 Republicans · 3 Democrats

H.R. 3234Keeping Deposits Local Act

What the measure doesCRS summary

How every member votedHouse roll call 177

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

Cosponsors11 · 8 Republicans · 3 Democrats

Who lobbied on H.R. 32346 organizations

Who lobbied on H.R. 32346 organizations