H.R. 6955 · Passed House · Finance and Financial Sector
Main Street Capital Access Act
Sponsor: J. French Hill (R-AR)
What it does
- Grant new banks a three-year phase-in period to meet capital requirements instead of meeting them immediately.
- Reduce the leverage ratio requirement for certain rural community banks.
- Require federal financial regulators to tailor supervisory actions based on institution risk profiles and business models, rather than applying uniform rules.
- Allow financial regulators to approve certain bank mergers without assessing whether they reduce competition or create monopolistic conditions.
- Raise asset thresholds that exempt financial holding companies and banks from various regulatory requirements, reporting obligations, and licensing fees.
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…
Latest action
Jul 22, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee: Senate Banking, Housing, and Urban Affairs