Advancing the Mentor-Protégé Program for Small Financial Institutions Act
Last recorded step: House, May 13, 2026.
Nothing scheduled on the calendars we hold.
This bill would create a Treasury program for large banks to mentor small, rural, and minority-owned firms on federal financial services.
What it does
This bill would establish the Financial Agent Mentor-Protégé Program within the Department of the Treasury. Under the program, large financial institutions or designated financial agents would provide mentorship to minority depository institutions, rural depository institutions, and small financial institutions. This mentorship is intended to help these smaller institutions improve their service capacity and prepare them to serve as financial agents for the federal government.
Who is affected
This bill affects the Department of the Treasury, which is tasked with establishing and overseeing the new Financial Agent Mentor-Protégé Program. Beneficiaries include minority depository institutions, rural depository institutions, and small financial institutions that seek mentorship to improve service capacity or qualify as federal financial agents. Large financial institutions and designated financial agents are also affected as they serve in the role of mentors within the program.
Key provisions
- Establishment of the Financial Agent Mentor-Protégé Program. Creates a formal program within the Department of the Treasury to facilitate mentorship between large financial institutions and smaller entities.
- Eligibility for Protégé Institutions. Designates minority depository institutions, rural depository institutions, and small financial institutions as eligible participants to receive mentorship.
- Mentorship and Capacity Building. Provides guidance from large financial institutions or Treasury-designated financial agents to help protégés improve their service capacity. The program aims to prepare these smaller institutions to serve as financial agents for the federal government.
Fiscal impact
Not applicable: No CBO cost estimate available
Effective dates
Not applicable: Official Summary does not address effective dates
Relationship to existing law
Not applicable: Bill establishes wholly new authority with no reference to prior law
Stated purpose
This bill establishes a mentorship program within the Department of the Treasury to assist minority, rural, and small financial institutions in improving their service capacity. The program aims to prepare these institutions to serve as financial agents for the federal government through guidance provided by larger financial institutions and designated Treasury agents.