Financial Mentor-Protege Program

Official: Advancing the Mentor-Protégé Program for Small Financial Institutions Act

IntroducedJune 4, 2025

Finance and Financial SectorEmployment and training programsCorporate finance and managementFinancial services and investments

Why This Matters

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.

If you rely on a small bank or credit union, their services could improve through this mentoring program.

Affects: Small financial institutions and their customers will benefit from improved services and support.

Summary

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.

What changes is this bill making?

1. This bill creates a program for large financial institutions to mentor smaller ones. 2. The program helps small financial institutions improve their services and readiness. 3. The Secretary of the Treasury will organize outreach events to promote participation. 4. There will be guidelines to exclude certain institutions from the program if needed. 5. Reports will track participation and outreach efforts related to the program.

Who is affected?

Small financial institutions and their customers will benefit from improved services and support.