A bill to require the Secretary of the Treasury to develop a program to expand the use of underutilized banks by Federal agencies.

Requires the Secretary of the Treasury to develop and carry out a program for the expanded use of underutilized banks by Federal agencies for: (1) depositing Federal funds as demand deposits or otherwise; and (2) depositaries or financial agents. Defines an "underutilized bank" as a bank: (1) at least 51 percent of which is owned by socially and economically disadvantaged individuals; and (2) the management and daily business operations of which are controlled by such individuals.

Requires the Secretary to report to the Congress annually on program activities and recommendations for legislative and executive actions. Provides for the participation of Federal agencies in such program.