This bill establishes a mentoring program where larger financial institutions help smaller ones improve their services. It aims to strengthen small financial institutions and enhance their ability to serve customers.
Advancing the Mentor-Protégé Program for Small Financial Institutions Act This bill establishes the Financial Agent Mentor-Protégé Program within the Department of the Treasury. The program provides participating minority and rural depository institutions and small financial institutions with mentorship from large financial institutions or from financial agents designated by Treasury. This mentorship prepares protégé institutions to improve service capacity or to perform as financial agents for the federal government.