H.R. 3709 establishes a program within the Department of the Treasury that pairs small financial institutions, especially those that are minority-owned or located in rural areas, with larger financial institutions for mentorship. This mentorship aims to help these smaller institutions enhance their services and potentially act as financial agents for the federal government.
H.R. 3709 was introduced in the 119th Congress by Joyce Beatty (Democrat) and is currently listed as “Passed House”. It is classified under the Finance and Financial Sector policy area, one of 159 bills in that area we track this Congress.
Joyce Beatty is the sponsor of 6 bills in our database this Congress, so H.R. 3709 is part of a broader legislative agenda rather than a one-off proposal.
Senate lobbying disclosures list 15 organizations lobbying on this bill’s issue area.
Media coverage has highlighted the bill as a significant step towards supporting small and minority-owned financial institutions, emphasizing its potential to enhance financial services in underserved communities and promote economic growth. Supporters argue that mentorship from larger institutions can empower these smaller entities to better serve their clients and engage more effectively with federal programs.
Critics have raised concerns about the effectiveness of mentorship programs, questioning whether they will lead to meaningful improvements for small financial institutions. Some media outlets have pointed out the potential for dependency on larger institutions, suggesting that the program may not adequately address the systemic challenges faced by minority and rural depository institutions.
The bill H.R. 3709: Advancing the Mentor-Protégé Program for Small Financial Institutions Act, sponsored by Joyce Beatty, does not appear to have any direct conflicts of interest between the sponsor's donors and the bill's subject matter. The top donor industries for Joyce Beatty do not overlap with the subject matter of the bill. Furthermore, the lobbying activity related to this bill's policy area does not seem to involve any industries or companies that have contributed significantly to Beatty's campaign. The disclosed lobbying amounts range from $10,000 to $60,000, but these amounts are not linked to Beatty's donors. Therefore, based on the available data, the risk of conflicts of interest appears to be low.
Organizations that lobbied on issues related to this bill's policy area.
| Client | Lobbying Firm | Amount |
|---|---|---|
| NATIONAL ENERGY & FUELS INSTITUTE | NATIONAL ENERGY & FUELS INSTITUTE | $60,000 |
| RICHARD BLAND COLLEGE OF WILLIAM & MARY | CONGRESSIONAL PARTNERS | $30,000 |
| RICHARD BLAND COLLEGE OF WILLIAM & MARY | CONGRESSIONAL PARTNERS | $30,000 |
| GENERAL ELECTRIC COMPANY | HITHER CREEK STRATEGIES, LLC | $21,000 |
| AMERICAN RHEINMETALL VEHICLES, LLC | HITHER CREEK STRATEGIES, LLC | $20,000 |
| LEONARDO DRS, INC | HITHER CREEK STRATEGIES, LLC | $15,000 |
| HOPFLYT INC | HITHER CREEK STRATEGIES, LLC | $10,000 |
| SL STRATEGIES OBO AANA | HITHER CREEK STRATEGIES, LLC | $10,000 |
| EPIRUS INC | HITHER CREEK STRATEGIES, LLC | $10,000 |
| ROBERT TRENT JONES II LLC | PLATINUM ADVISORS DC, LLC | undisclosed |
| AMERICAN SOCIETY OF GOLF COURSE ARCHITECTS | PLATINUM ADVISORS DC, LLC | undisclosed |
| SAVE GREATER DOWSES BEACH | HITHER CREEK STRATEGIES, LLC | undisclosed |
| GDX CORPORATION | HITHER CREEK STRATEGIES, LLC | undisclosed |
| TOWN OF NANTUCKET, MA | HITHER CREEK STRATEGIES, LLC | undisclosed |
| MICROAUTOMATION INC. | DLG PARTNERS (FKA DRAGON LIST GLOBAL) | undisclosed |
Source: Senate Lobbying Disclosure Act (LDA) filings, 2026
What does H.R. 3709 do?
H.R. 3709 establishes a program within the Department of the Treasury that pairs small financial institutions, especially those that are minority-owned or located in rural areas, with larger financial institutions for mentorship. This mentorship aims to help these smaller institutions enhance their services and potentially act as financial agents for the federal government.
Has H.R. 3709 received a floor vote?
No roll-call vote on H.R. 3709 is recorded in our database yet. Its current status is “Passed House”.
What is the status of H.R. 3709?
H.R. 3709 is currently “Passed House” as of our last update on May 13, 2026.
Who sponsored H.R. 3709?
H.R. 3709 was sponsored by Joyce Beatty (Democrat).
