US HB3709

Secretary of the Treasury must establish a "Financial Agent Mentor-Protégé Program" pairing Treasury-designated financial agents or large financial institutions (≥$50 billion in assets) with small financial institutions to prepare them to serve as financial agents or improve customer services

Small financial institutions eligible as protégés include entities with ≤$2 billion in consolidated assets, minority depository institutions, and rural depository institutions (under $10 billion in assets, located in rural areas)

Treasury must hold at least one annual outreach event to promote program participation and issue guidance establishing a process to exclude institutions from participation

Treasury's Office of Minority and Women Inclusion must report to Congress on program participation numbers and outreach events held as part of its existing Dodd-Frank reporting requirements

Act takes effect 90 days after enactment and amends Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989