Main Street Capital Access Act
Latest action (21 Jul 2026): On passage Passed by the Yeas and Nays: 270 - 155, 1 Present (Roll no. 271).
What this bill does
This bill, passed by the House on July 21, 2026, would make numerous changes to federal banking law aimed at easing regulatory burdens on smaller and community banks and promoting competition and transparency in the sector. Key provisions include extending and revising a pilot program meant to encourage new bank formation, requiring federal regulators to publish annual data on bank charter and holding-company application processing times, increasing funding limits and adjusting terms for the CDFI Bond Guarantee Program, raising the asset threshold for small bank holding company relief to $6 billion, and requiring the Federal Reserve to periodically adjust various regulatory asset thresholds to account for economic growth or inflation. The bill also directs agencies to tailor regulations to institutions' risk profiles and business models and to report to Congress on these efforts.
The bill primarily affects banks, savings associations, credit unions, and their holding companies—particularly smaller and community institutions—as well as federal banking regulators including the Federal Reserve, OCC, FDIC, NCUA, and the CDFI Fund. It also touches on bank mergers, resolutions, discount window access, and fintech partnerships, based on the table of contents, though the provided text does not detail all these titles' specifics.
Having passed the House by a vote of 270-155 with one member voting present, the bill now moves to the Senate for consideration. It would need to pass the Senate, potentially in amended form, and be signed by the President before becoming law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Main Street Capital Access Act or the Main Street Act
This bill lessens and otherwise modifies banking regulations, including those regarding institution formation, supervision by federal financial regulators, and bank merger requirements.
Under the bill, new banks have a three-year phase-in period to meet certain capital requirements. The bill also reduces the leverage ratio for certain rural community banks.
Financial regulators must (1) tailor regulatory actions to limit burdens on financial institutions and must consider the institutions' risk profiles and business models, and (2) review their regulations more frequently and expand the scope of these reviews.
The bill eases requirements regarding bank mergers, for example, by allowing financial regulators to approve certain bank mergers without considering if the merger is noncompetitive or monopolistic.
The bill increases the dollar asset thresholds for various fees, reporting requirements, and other regulatory requirements so that more financial companies and banks are exempt from these requirements. For example, the bill increases the total asset threshold above which financial holding companies need Federal Reserve Board approval to acquire a company, thereby allowing for more acquisitions without board approval. The bill also raises certain asset thresholds so as to allow additional small bank holding companies to operate with higher debt levels and additional small banks to qualify for a longer examination cycle.
The bill also provides flexibilities regarding the use of reciprocal deposits, the resolution of failed banks, and other regulated activities.
Timeline
21 Jul 2026
On passage Passed by the Yeas and Nays: 270 - 155, 1 Present (Roll no. 271).
4 Mar 2026
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Common questions
- What does H.R. 6955 do?
- This bill, passed by the House on July 21, 2026, would make numerous changes to federal banking law aimed at easing regulatory burdens on smaller and community banks and promoting competition and transparency in the sector. Key provisions include extending and revising a pilot program meant to encourage new bank formation, requiring federal regulators to publish annual data on bank charter and holding-company application processing times, increasing funding limits and adjusting terms for the CDFI Bond Guarantee Program, raising the asset threshold for small bank holding company relief to $6 billion, and requiring the Federal Reserve to periodically adjust various regulatory asset thresholds to account for economic growth or inflation. The bill also directs agencies to tailor regulations to institutions' risk profiles and business models and to report to Congress on these efforts. The bill primarily affects banks, savings associations, credit unions, and their holding companies—particularly smaller and community institutions—as well as federal banking regulators including the Federal Reserve, OCC, FDIC, NCUA, and the CDFI Fund. It also touches on bank mergers, resolutions, discount window access, and fintech partnerships, based on the table of contents, though the provided text does not detail all these titles' specifics. Having passed the House by a vote of 270-155 with one member voting present, the bill now moves to the Senate for consideration. It would need to pass the Senate, potentially in amended form, and be signed by the President before becoming law.
- Has H.R. 6955 become law?
- Not yet. As of 21 Jul 2026, H.R. 6955 is passed house (senate next).
- Who sponsored H.R. 6955?
- H.R. 6955 was sponsored by Rep. French Hill [R-AR2] (Republican-AR), with 33 cosponsors.
- What's the latest action on H.R. 6955?
- On passage Passed by the Yeas and Nays: 270 - 155, 1 Present (Roll no. 271). (21 Jul 2026).
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