Establishes a Financial Agent Mentor-Protégé Program within the Department of the Treasury to mentor small financial institutions.
The Advancing the Mentor-Protégé Program for Small Financial Institutions Act amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to create a Financial Agent Mentor-Protégé Program. This program allows financial agents or large financial institutions to mentor small financial institutions, helping them prepare to perform as financial agents and improve their service capacity. The Secretary of the Treasury will issue guidance and hold annual outreach events to promote participation.
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