H.R. 3234 · 119th Congress · Finance and financial sector
Keeping Deposits Local Act
How the House voted
Yea from the left, nay from the right, each side by party
Bundled: this vote covered more than one measure.
House · May 20, 2026
Roll call ↗405
0
Passed the House.
Standalone in structure, but a single yes carried two subjects. Sections 2 through 4 all amend the reciprocal-deposit rules of the Federal Deposit Insurance Act and order a study of them. Section 5 is unrelated: it reduces the Federal Reserve's discretionary surplus fund by $28 million as a fiscal offset, effective 2036, with no connection to deposit brokering. The coupling point is the pay-for: the surplus-fund cut is the budget offset for the banking change.
Passed the House on May 20, 2026.
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs
- IntroducedMay 7, 2025
- CommitteeNov 4, 2025
- Passed HouseMay 20, 2026
- Passed Senate
- Became law
On the record
- Cosponsors
- 11
- 3 Democrats, 8 Republicans
- Committees
- Senate Committee on Banking, Housing, and Urban AffairsHouse Committee on Financial Services
- Lobbying
- At least 6
- organizations named it2025 Q2 to 2026 Q3
What it does
This bill lets banks classify more of their reciprocal deposits as local funds instead of brokered funds under the Federal Deposit Insurance Act.
How each member voted
The House roll call, passed the House, May 20, 2026
Yea unless marked
D · House · NC-12
D · House · CA-33
R · House · MO-4
R · House · GA-12
This bill lets banks classify more of their reciprocal deposits as local funds instead of brokered funds under the Federal Deposit Insurance Act. It sets the exempt amount as a tiered share of a bank's total liabilities: 50 percent of liabilities up to $1 billion, 40 percent of the portion between $1 billion and $10 billion, and 30 percent of the portion between $10 billion and $250 billion. It widens which banks qualify by letting institutions with a CAMELS supervisory rating of 3, not just 1 or 2, count as an agent institution. It orders the FDIC to study reciprocal deposits and report to the House and Senate banking committees within six months. It also cuts the Federal Reserve's discretionary surplus fund cap by $28 million, effective September 1, 2036.
Each stop is a step the bill’s own record states, with the date it happened. A ring is a step not yet taken. A bill becomes law when the President signs it or Congress overrides a veto.
At least 6 organizations named this measure in a lobbying filing. A floor, not a total: they were counted by the client name on 25 quarterly reports filed by 6 organizations lobbying for themselves in 2025 Q2, 2025 Q3, 2025 Q4, 2026 Q1, 2026 Q2 and 2026 Q3. An organization that lobbied this measure without naming it is not counted here.
The filings record that lobbying was reported on the measure. The form has no per-bill dollar figure and no field for a position, so nothing here says how much was spent or which side an organization took.
5 of them, in no ranking: Independent Bankers Association of Texas; New York Bankers Association; Independent Community Bankers of America; Jpmorgan Chase Holdings LLC; Western Alliance Bancorporation. Listed as filed, in the order the filings were read, and 1 other is not shown. These are not the largest, the earliest or the most active: we keep five names per measure, and the filings give no ranking.
From the LD-2 quarterly lobbying filings published at lda.gov by the Senate Office of Public Records. Read for 2025 Q1, 2025 Q2, 2025 Q3, 2025 Q4, 2026 Q1, 2026 Q2 and 2026 Q3. Our copy holds 24 fewer filings for 2025 Q1, 39 fewer filings for 2025 Q2, 42 fewer filings for 2025 Q3, 33 fewer filings for 2025 Q4, 28 fewer filings for 2026 Q1, 48 fewer filings for 2026 Q2 and 218 fewer filings for 2026 Q3 than the Senate's register counts, so those quarters are the filings we could read rather than every one filed. 2026 Q4 is still inside its filing window, so that quarter is only the filings posted so far.
Congress.gov bill status and cosponsor records; the House Clerk and Senate roll calls; lobbying reports filed under the Lobbying Disclosure Act (lda.gov); the plain summary and provisions are read from the bill text, each with its section.