Main Street Act would ease bank rules, speed up federal regulatory decisions
Passed one chamberH.R. 6955Latest action
Sponsor: J. French Hill · Representative · AR
AIDecoded by AI · checked against the recordRead the official text
Official title: Main Street Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
The plain-language version comes first. The official text is always the reference.
The Main Street Act would loosen bank oversight and speed up regulatory approvals, especially for small and rural banks.
45-second read · 4 questions answered below
What does this do?
The bill changes how federal agencies like the FDIC, Federal Reserve, and Comptroller of the Currency regulate banks, especially smaller and community banks. It gives new banks a three-year phase-in for capital requirements, sets faster approval deadlines with automatic approval if missed, raises asset thresholds for strict oversight, and creates new rules for faster, more standardized bank examinations plus an appeals office for disputed findings.
Who does it affect?
The bill mainly affects banks themselves, especially small, community, and rural banks and people starting new banks. It could also indirectly affect depositors, farmers, small business borrowers, and communities served by local banks.
Why does it matter?
Raising the thresholds for strict "too big to fail" oversight means some previously closely-watched banks would face lighter regulation, and faster, more automatic approval deadlines could reduce the time regulators have to scrutinize applications and mergers.
AI-drafted summary. Check it against the official text before you act on it.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedJan 7, 2026
- House committee
- House vote
- SenateYou are here · Jul 22, 2026
- The president's desk
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Recorded votes
Roll-call votes recorded since January 3, 2025.
House · · Roll call 271
As recorded
- Question
- On Passage
- Result:
- Passed
- 270
- Nay
- 155
- 1
- 5
Republicans 213 yes, 1 no, 4 not voting · Democrats 56 yes, 154 no, 1 present, 1 not voting · Independent 1 yes
Official recordHow members voted
The official record lists how each member voted.Official record
House · · Roll call 270
As recorded
- Question
- On
- Result:
- Failed
- 210
- Nay
- 216
- 0
- 5
Republicans 214 no, 4 not voting · Democrats 210 yes, 1 no, 1 not voting · Independent 1 no
Official recordHow members voted
The official record lists how each member voted.Official record