H.R. 6955
Main Street Capital Access Act
Sponsor: J. French Hill · 33 cosponsors
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Official summary
Written by the Congressional Research Service.
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.
Text of the bill
I New Bank Formation and Local Community Access
II Tailoring Bank Regulation
III Fair and Transparent Bank Supervision
IV Regulatory Accountability and Transparency
V Strengthening Local Bank Funding
VI Promoting Bank Competition and Merger Clarity
Where this section came from
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Jan 7, 2026 · Introduced in House Referred to House Committee on Financial Services, Jan 7
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Apr 20, 2026 · Reported in House Marked up by House Committee on Financial Services, Mar 4 Reported by House Committee on Financial Services, Apr 20 Committee members' individual votes aren't in our records.
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Jul 21, 2026 · Engrossed in House H.Amdt. 241: Pursuant to the provisions of H. Res. 1438, in lieu of the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 119-35 is considered as adopted. Official page › H.Res. 1438: On Ordering the Previous Question — Passed, 213–209 · Roll Call 253 H.Res. 1438: On Agreeing to the Resolution — Passed, 214–211 · Roll Call 254 On Motion to Recommit — Failed, 210–216 · Roll Call 270On Passage — Passed, 270–155 · Roll Call 271
… 13 unchanged passages …
(ii) Extension of notice. Notwithstanding clause (i), the Board may, if an application is complex, extend the 30-day period described under clause (i) for an additional
30
period not to exceed 60
days.
… 18 unchanged passages …
(B) Extension of notice. Notwithstanding subparagraph (A), the Board may, if an application is complex, extend the 30-day period described under subparagraph (A) for
an
a
additional
period
30
not to exceed 60
days.
… 15 unchanged passages …
(B) Extension of notice. Notwithstanding subparagraph (A), the responsible agency may, if an application is
unusually
complex, extend the 30-day period described under subparagraph (A) for
an
a
additional
period
30
not to exceed 60
days.
… 9 unchanged passages …
What does "considered adopted" mean?
When a chamber approves a rule that says a change is "considered adopted", the change becomes part of the bill as soon as the rule passes, without a separate vote on the change itself.
What is a markup?
A markup is a committee meeting where members go through a bill and vote on changes before sending it to the full chamber.
(a) Bank holding companies. Section 3(b)(1) of the Bank Holding Company Act of 1956 (12 U.S.C. 1842(b)(1)) is amended—
(1) by striking Upon receiving and inserting the following:
(A) In general. Upon receiving
(2) by striking required and inserting acquired;
(3) by striking In the event of the failure of the Board to act on any application for approval under this section within the ninety-one-day period which begins on the date of submission to the Board of the complete record on that application, the application shall be deemed to have been granted.; and
(4) by adding at the end the following:
(B) Complete record on an application
(i) Notice to applicant. Not later than 30 days after the date on which the Board receives an application for approval under this section, the Board shall transmit to the applicant a letter that either—
(I) confirms the record on the application is complete; or
(II) details all additional information that is required for the record on that application to be complete.
(ii) Extension of notice. Notwithstanding clause (i), the Board may, if an application is complex, extend the 30-day period described under clause (i) for an additional period not to exceed 60 days.
(iii) Receipt of response; deeming of complete record. Upon receipt of a response from an applicant to a notice requesting additional information described under clause (i)(II), the record on the application shall be deemed complete unless the Board—
(I) determines that the applicant’s response was materially deficient; and
(II) not later than 30 days after the date on which the Board received the response, provides the applicant a detailed notice describing the deficiencies.
(iv) Treatment of third-party information. In determining whether the record on an application is complete, the Board may take into account only information provided by the applicant, and may not base the determination of completeness on any information (including reports, views, or recommendations) provided by third parties.
(C) Deadline for determination
(i) In general. Notwithstanding subparagraphs (A) and (B), the Board shall grant or deny an application submitted under this section not later than 120 days after the date on which the application was initially submitted to the Board, regardless of whether the record on such initial application was complete.
(ii) Failure to make a determination. If the Board does not grant or deny an application within the time period described under clause (i), such application shall be deemed to have been granted.
(iii) Tolling of period. The Board may at any time extend the deadline described under clause (i) at the request of the applicant, but may not extend the deadline more than 30 days past the deadline described under clause (i).
(b) Savings and loan holding companies. Section 10(e) of the Home Owners’ Loan Act (12 U.S.C. 1467a(e)) is amended—
(1) in paragraph (2), by striking , and shall render a decision within 90 days after submission to the Board of the complete record on the application;
(2) by redesignating paragraph (7) as paragraph (9); and
(3) by inserting after paragraph (6) the following:
(7) Complete record on an application
(A) Notice to applicant. Not later than 30 days after the date on which the Board receives an application for approval under this subsection, the Board shall transmit to the applicant a letter that either—
(i) confirms the record on the application is complete; or
(ii) details all additional information that is required for the record on that application to be complete.
(B) Extension of notice. Notwithstanding subparagraph (A), the Board may, if an application is complex, extend the 30-day period described under subparagraph (A) for a period not to exceed 60 days.
(C) Receipt of response; deeming of complete record. Upon receipt of a response from an applicant to a notice requesting additional information described under subparagraph (A)(ii), the record on the application shall be deemed complete unless the Board—
(i) determines that the applicant’s response was materially deficient; and
(ii) not later than 30 days after the date on which the Board received the response, provides the applicant a detailed notice describing the deficiencies.
(D) Treatment of third-party information. In determining whether the record on an application is complete, the Board may take into account only information provided by the applicant, and may not base the determination of completeness on any information (including reports, views, or recommendations) provided by third parties.
(8) Deadline for determination
(A) In general. Notwithstanding any other provision of this subsection, the Board shall grant or deny an application submitted under this subsection not later than 120 days after the date on which the application was initially submitted to the Board, regardless of whether the record on such initial application was complete.
(B) Failure to make a determination. If the Board does not grant or deny an application within the time period described under subparagraph (A), such application shall be deemed to have been granted.
(C) Tolling of period. The Board may at any time extend the deadline described under subparagraph (A) at the request of the applicant, but may not extend the deadline more than 30 days past the deadline described under subparagraph (A).
(c) Insured depository institutions. Section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)) is amended by adding at the end the following:
(14) Complete record on an application
(A) Notice to applicant. Not later than 30 days after the date on which the responsible agency receives a merger application for approval under this subsection, the responsible agency shall transmit to the applicant a letter that either—
(i) confirms the record on the application is complete; or
(ii) details all additional information that is required for the record on that application to be complete.
(B) Extension of notice. Notwithstanding subparagraph (A), the responsible agency may, if an application is complex, extend the 30-day period described under subparagraph (A) for a period not to exceed 60 days.
(C) Receipt of response; deeming of complete record. Upon receipt of a response from an applicant to a notice requesting additional information described under subparagraph (A)(ii), the record on the application shall be deemed complete unless the responsible agency—
(i) determines that the applicant’s response was materially deficient; and
(ii) not later than 30 days after the date on which the responsible agency received the response, provides the applicant a detailed notice describing the deficiencies.
(D) Treatment of third-party information. In determining whether the record on an application is complete, the responsible agency may take into account only information provided by the applicant, and may not base the determination of completeness on any information (including reports, views, or recommendations) provided by third parties.
(15) Deadline for determination
(A) In general. Notwithstanding any other provision of this subsection, the responsible agency shall grant or deny a merger application submitted under this subsection not later than 120 days after the date on which the application was initially submitted to the responsible agency, regardless of whether the record on such initial application was complete.
(B) Failure to make a determination. If the responsible agency does not grant or deny an application within the time period described under subparagraph (A), such application shall be deemed to have been granted.
(C) Tolling of period. The responsible agency may at any time extend the deadline described under subparagraph (A) at the request of the applicant, but may not extend the deadline more than 30 days past the deadline described under subparagraph (A).
VII Strengthening Transparency and Involvement in Bank Resolutions
VIII Facilitating Innovation and Bank Partnerships