H.R. 6955
Main Street Capital Access Act
Sponsor: J. French Hill · 33 cosponsors
Follow this bill
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
Where this section came from
-
Jan 7, 2026 · Introduced in House Referred to House Committee on Financial Services, Jan 7
-
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.
-
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
… 8 unchanged passages …
(B) tailor the regulatory action applicable to
an
a
institution,
class
or type of institution
,
in a manner that limits the regulatory impact, including cost, human resource allocation, and other burdens, on the institution or type of institution as is appropriate for the risk profile and business model involved.
… 1 unchanged passage …
(A) the aggregate effect of all applicable regulatory actions promulgated by such agency on the ability of institutions to flexibly serve customers of the institutions and local markets on and after the date of enactment of this Act;
… 6 unchanged passages …
(b) Short-form call reports for all banks eligible for the community bank leverage ratio. The appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), shall
promulgate
establish
regulations establishing
a reduced reporting requirement for all banks eligible for the Community Bank Leverage Ratio, as defined in section 201(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note), when making the first and third report of condition of a year as required by section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)).
… 8 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) Tailoring regulation to business model and risk
(1) Definitions. In this subsection—
(A) the term Federal financial institutions regulatory agency means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Bureau of Consumer Financial Protection; and
(B) the term regulatory action—
(i) means any proposed, interim, or final rule or regulation; and
(ii) does not include any action taken by a Federal financial institutions regulatory agency that is solely applicable to an individual institution, including an enforcement action, adjudication, or order.
(2) Consideration and tailoring. For any regulatory action occurring after the date of enactment of this Act, each Federal financial institutions regulatory agency shall—
(A) take into consideration the risk profile and business models of each type of institution or class of institutions subject to the regulatory action; and
(B) tailor the regulatory action applicable to a class or type of institution in a manner that limits the regulatory impact, including cost, human resource allocation, and other burdens, on the institution or type of institution as is appropriate for the risk profile and business model involved.
(3) Factors to consider. In carrying out the requirements of paragraph (2) with respect to a regulatory action, each Federal financial institutions regulatory agency shall consider—
(A) the aggregate effect of all applicable regulatory actions promulgated by such agency on the ability of institutions to flexibly serve customers of the institutions and local markets on and after the date of enactment of this Act;
(B) the potential that efforts to implement the regulatory action and third-party service provider actions may work to undercut efforts to tailor the regulatory action, as described in paragraph (2)(B); and
(C) the statutory provision authorizing the regulatory action, the congressional intent with respect to the statutory provision, and the underlying policy objectives of the regulatory action.
(4) Notice of proposed and final rulemaking. Each Federal financial institutions regulatory agency shall disclose and document in every notice of proposed rulemaking and in any final rulemaking for a regulatory action how the agency has applied paragraphs (2) and (3).
(5) Reports to Congress
(A) Agency reporting. Not later than 1 year after the date of enactment of this Act and annually thereafter, each Federal financial institutions regulatory agency shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the specific actions taken to tailor the regulatory actions of the Federal financial institutions regulatory agency pursuant to the requirements of this section.
(B) GAO reporting. Not later than 18 months after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report evaluating the effects of this section on the factors described in paragraph (3).
(b) Short-form call reports for all banks eligible for the community bank leverage ratio. The appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), shall establish a reduced reporting requirement for all banks eligible for the Community Bank Leverage Ratio, as defined in section 201(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note), when making the first and third report of condition of a year as required by section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)).
(c) Report to Congress on modernization of supervision. Not later than 18 months after the date of enactment of this Act, the appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), in consultation with State bank supervisors, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the modernization of bank supervision, including the following factors:
(1) Changing bank business models.
(2) Examiner workforce and training.
(3) The structure of supervisory activities within banking agencies.
(4) Improving bank-supervisor communication and collaboration.
(5) The use of supervisory technology.
(6) Supervisory factors uniquely applicable to community banks.
(7) Changes in statutes necessary to achieve more effective supervision.
III Fair and Transparent Bank Supervision
IV Regulatory Accountability and Transparency
V Strengthening Local Bank Funding
VI Promoting Bank Competition and Merger Clarity
VII Strengthening Transparency and Involvement in Bank Resolutions
VIII Facilitating Innovation and Bank Partnerships