The U.S. House Committee on Financial Services announced that the House of Representatives passed H.R. 6955, the Main Street Capital Access Act, by a vote of 270-155-1. The legislation is positioned as a bank regulatory tailoring measure intended to revive local bank formation and reduce burdens on community lenders so they can focus more on lending to families, small businesses and local economies. As described by the committee and the bill's sponsors, the measure would spur the formation of new banks, restore a more tailored approach to bank regulation, remove barriers that have constrained local lending, and expand access to funding. House Republican leaders also said the final bill includes the Keeping Deposits Local Act and would ease compliance burdens on community banks and credit unions that they argue have been subject to rules designed for the largest banking institutions. Sponsors said they expect the Senate to take up the legislation next. Committee background noted that the House Financial Services Committee advanced the bill on March 5 after its January introduction and following several hearings on bank capital, competition, funding access, mergers and de novo formation.
U.S. Financial Services Committee2026-07-21
U.S. House of Representatives passes Main Street Capital Access Act, aiming to spur new bank formation and ease burdens on community lenders
The U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access Act, by a 270-155-1 vote. House Financial Services Committee leaders said the bill would spur new bank formation, restore more tailored bank regulation, and reduce barriers for community banks and credit unions serving local borrowers. Sponsors urged the Senate to take up the measure.