Keeping Deposits Local Act

Where it stands

1. Introduced Done · May 7, 2025
2. Committee Done · May 7, 2025
3. Passed House Done · May 20, 2026
4. Passed Senate Not yet
5. President Not yet
6. Law Not yet

From the official actions on Congress.gov.

Key points

What it changes

A plain-language summary isn't ready yet. The official summary below describes the bill.

Who it affects

A plain-language summary isn't ready yet. The official summary below describes the bill.

What it costs

No cost estimate yet.

Where it stands

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (May 21, 2026)

What happens next

The Senate would need to pass it next.

Official 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.)

Summary by the Congressional Research Service (Introduced in House version), via Congress.gov. These are proposed provisions, not enacted law.

Recorded votes

1. HOUSEFinal passageMay 20, 2026 · roll call 177

   On Motion to Suspend the Rules and Pass, as Amended: Passed (405–0)

   This vote decided whether the bill passes this chamber.
   Votes by party

   How each party voted on roll call 177

   Party	Yes	No	Present	Did not vote	Share voting Yes
   Democratic	204	0	0	8
   Republican	200	0	0	17
   Independent	1	0	0	0

   Party totals from the official roll call.

   Map: how each state voted

   All voted YesSplitAll voted NoNo Yes or No votes

   Each state is shaded by the share of its U.S. House members who voted Yes, out of those who voted Yes or No. Colors show the vote, not party.

   Office of the Clerk, U.S. House ↗ — includes how every member voted

Vote types come from the official question text. How we label votes

Legislative history

1. May 21, 2026Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2. May 20, 2026Motion to reconsider laid on the table Agreed to without objection.
3. May 20, 2026On 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).
4. May 20, 2026Passed/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).
5. May 20, 2026Considered as unfinished business. (consideration: CR H3644-3645)
6. May 19, 2026At 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.
7. May 19, 2026DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
8. May 19, 2026Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
9. May 19, 2026Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
10. Nov 4, 2025Placed on the Union Calendar, Calendar No. 314.
11. Nov 4, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
12. Nov 4, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
13. Sep 16, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
14. Sep 16, 2025Committee Consideration and Mark-up Session Held
15. May 7, 2025Referred to the House Committee on Financial Services.
16. May 7, 2025Introduced in House
17. May 7, 2025Introduced in House