Advancing the Mentor-Protégé Program for Small Financial Institutions Act

# Summary: Advancing the Mentor-Protégé Program for Small Financial Institutions Act **What it would do:** This bill would create a new mentorship program within the Department of the Treasury designed to help small, minority-owned, and rural banks improve their operations and capabilities. Under the program, larger financial institutions or Treasury-designated "financial agents" would mentor smaller banks, helping them strengthen their services and eventually qualify to work directly with the federal government on financial matters. **Who it affects:** The primary beneficiaries would be small banks, minority-owned financial institutions, and rural banks that currently have limited resources or capacity.

The program could also affect large banks, which would serve as mentors, and the federal government, which could potentially work with more financial institutions for government banking services. **Current status:** The bill was introduced by Representative Joyce Beatty (D-OH) and is currently in committee, meaning it has not yet been voted on by the full House of Representatives. It remains in the early stages of the legislative process.