Establishes a Financial Agent Mentor-Protégé Program within the Department of the Treasury.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to create a Financial Agent Mentor-Protégé Program. The Secretary of the Treasury will establish this program to allow financial agents or large financial institutions to mentor small financial institutions. The program aims to prepare small financial institutions to perform as financial agents. The Secretary will also issue guidance for excluding participants and report annually to Congress on program participation and outreach events.
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