H.R. 6955, the Main Street Act, passed the House on July 21, 2026.
H.R. 6955 — Main Street Act
What it does
This bill substantially deregulates community and regional banks by raising asset thresholds that trigger stricter federal oversight, extending timelines for regulatory approval of new banks and mergers, and creating an independent office to review bank examinations. It reduces capital requirements for new banks, loosens lending restrictions, and establishes automatic approval of applications if regulators miss deadlines. The primary beneficiaries are smaller and mid-sized banks seeking to grow and consolidate without heightened regulatory scrutiny.
Quorum's transparency scan gave Main Street Act a high transparency warning.
What happens next
H.R. 6955 passed the House. It now moves to the other chamber.
Who is behind it
Filed by J. Hill. Cosponsored by Andrew Garbarino, Andrew Ogles, Andy Barr and Ann Wagner.