H.R. 5315House116th Congress (2019-2021)Passed House

Expanding Opportunity for Minority Depository Institutions Act

To amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Financial Agent Mentor-Protégé Program within the Department of the Treasury, and for other purposes.

Also known as Expanding Opportunity for MDIs Act · Expanding Opportunity for Minority Depository Institutions (MDIs) Act

AI-Generated Summary

Updated April 14, 2026 at 9:53 AM UTC

The Expanding Opportunity for Minority Depository Institutions Act adds a new mentor‑protege program to the Treasury Department. The program pairs a designated financial agent or a large bank with a small bank or minority depository institution to help the smaller institution learn how to act as a government financial agent or improve its service capacity. It applies to large financial institutions with assets of $50 billion or more and to small institutions with assets of $2 billion or less, including minority depository institutions.

Key Provisions

The Treasury Secretary must create a “Financial Agent Mentor‑Protege Program” that allows a financial agent or large institution to serve as a mentor to a small or minority depository institution.
Mentors help the smaller institution become capable of performing as a financial agent or enhance its ability to serve its customers.
The Treasury must hold at least one outreach event each year to encourage participation by financial agents, large institutions, and small institutions.
The Secretary must issue guidance for excluding any participant from the program if needed.
The Office of Minority and Women Inclusion must report to Congress each year on program participation numbers and outreach events.
Definitions are provided for “financial agent,” “large financial institution” (assets ≥ $50 billion), and “small financial institution” (assets ≤ $2 billion or a minority depository institution).

Legislative Activity

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11 earlier actions

SenateIntro Referral Latest Action

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

Banking, Housing, and Urban Affairs Committee

January 14, 2020

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HouseIntro Referral

Introduced in House

December 5, 2019

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

December 5, 2019

HouseCommittee

Committee Consideration and Mark-up Session Held.

Financial Services Committee

December 10, 2019

HouseCommittee

Committee Consideration and Mark-up Session Held.

Financial Services Committee

December 11, 2019

HouseCommittee

Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.

Financial Services Committee

December 11, 2019

HouseFloor

Ms. Waters moved to suspend the rules and pass the bill, as amended.

January 13, 2020 • 5:21 PM

HouseFloor

Considered under suspension of the rules. (consideration: CR H192-194)

January 13, 2020 • 5:21 PM

HouseFloor

DEBATE - The House proceeded with forty minutes of debate on H.R. 5315.

January 13, 2020 • 5:21 PM

HouseFloor

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H192)

January 13, 2020 • 5:35 PM

HouseFloor

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H192)

January 13, 2020 • 5:35 PM

HouseFloor

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

January 13, 2020 • 5:35 PM

SenateIntro Referral

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

Banking, Housing, and Urban Affairs Committee

January 14, 2020

Bill Text

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Referred in SenateIssued January 14, 2020

IIB

116th CONGRESS

2d Session

H. R. 5315

IN THE SENATE OF THE UNITED STATES

January 14, 2020

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

Short title

This Act may be cited as the Expanding Opportunity for Minority Depository Institutions Act or the Expanding Opportunity for MDIs Act.

Establishment of Financial Agent Mentor-Protégé Program

(a)

In general

Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note) is amended by adding at the end the following new subsection:

(d)

Financial Agent Mentor-Protégé Program

(1)

In general

The Secretary of the Treasury shall establish a program to be known as the Financial Agent Mentor-Protégé Program (in this subsection referred to as the Program) under which a financial agent designated by the Secretary or a large financial institution may serve as a mentor, under guidance or regulations prescribed by the Secretary, to a small financial institution to allow such small financial institution—

(A)

to be prepared to perform as a financial agent; or

(B)

to improve capacity to provide services to the customers of the small financial institution.

(2)

Outreach

The Secretary shall hold outreach events to promote the participation of financial agents, large financial institutions, and small financial institutions in the Program at least once a year.

(3)

Exclusion

The Secretary shall issue guidance or regulations to establish a process under which a financial agent, large financial institution, or small financial institution may be excluded from participation in the Program.

(4)

Report

The Office of Minority and Women Inclusion of the Department of the Treasury shall include in the report submitted to Congress under section 342(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act information pertaining to the Program, including—

(A)

the number of financial agents, large financial institutions, and small financial institutions participating in such Program; and

(B)

the number of outreach events described in paragraph (2) held during the year covered by such report.

(5)

Definitions

In this subsection:

(A)

Financial agent

The term financial agent means any national banking association designated by the Secretary of the Treasury to be employed as a financial agent of the Government.

(B)

Large financial institution

The term large financial institution means any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets greater than or equal to $50,000,000,000.

(C)

Small financial institution

The term small financial institution means—

(i)

any entity regulated by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration that has total consolidated assets lesser than or equal to $2,000,000,000; or

(ii)

a minority depository institution.

(b)

Effective date

This Act and the amendments made by this Act shall take effect 90 days after the date of the enactment of this Act.

Passed the House of Representatives January 13, 2020.

Cheryl L. Johnson,

Clerk.