What does Preamble of Main Street Act do?

This bill is formally titled 'To make improvements to the Federal banking laws, and for other purposes.' The bill was introduced in the House of Representatives on January 7, 2026, and referred to the Committee on Financial Services.

What does PROMOTING NEW BANK FORMATION. of Main Street Act do?

This section promotes new bank formation by providing a 3-year phase-in period for depository institutions to meet Federal capital requirements. Depository institutions can request to deviate from approved business plans during the 3-year period. Rural community depository institutions have a leverage ratio of the lesser of the Community Bank Leverage Ratio or 7.5 percent during the 3-year period. Federal savings associations are allowed to make agricultural loans. A study will be conducted on the low number of de novo insured depository institutions and ways to promote more in underserved areas.

What does NEW BANK APPLICATION NUMBERS KNOWLEDGE. of Main Street Act do?

This section mandates annual reports on various depository institution and credit union charter applications. The Comptroller of the Currency must publish a report on national bank and Federal savings association charter applications, detailing application statuses and approval times. The National Credit Union Administration must publish a report on Federal credit union charter applications, including statuses and approval times. The Board of Governors of the Federal Reserve System is required to publish an annual report on depository institution holding company applications, covering application statuses, approval times, and reasons for denial or withdrawal. The Federal Deposit Insurance Corporation must publish an annual report on deposit insurance applications, detailing statuses and approval times. The Federal Reserve, FDIC, and NCUA must jointly publish an annual report on State depository institution and State credit union charter applications, including statuses, approval times by State, and reasons for denial or withdrawal.

What does RURAL DEPOSITORIES REVITALIZATION STUDIES. of Main Street Act do?

This section mandates two studies focused on rural financial institutions. The Federal banking agencies are required to conduct a study to identify methods for improving the growth, capital adequacy, and profitability of depository institutions in rural areas, and to identify regulations that limit these methods. The National Credit Union Administration must conduct a similar study regarding insured credit unions. Both studies must identify Federal statutes or regulations that hinder the establishment of new financial institutions in rural areas. The findings of both studies are to be compiled into reports submitted to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within one year of the Act's enactment. The section defines key terms including 'depository institution,' 'Federal banking agencies,' 'insured credit union,' and 'rural area'.

What does COMMUNITY INVESTMENT AND PROSPERITY. of Main Street Act do?

This section amends the Revised Statutes of the United States. Specifically, it modifies section 5136 of the Revised Statutes (12 U.S.C. 24). The amendment involves replacing the number '15' with '20' in the fifth sentence of the specified section. This section also amends the Federal Reserve Act. It modifies the 23rd paragraph of section 9 of the Federal Reserve Act (12 U.S.C. 338a). Similar to the previous amendment, this involves replacing the number '15' with '20' in the fifth sentence.

What does CDFI FUND TRANSPARENCY. of Main Street Act do?

This section amends Section 104(b) of the Riegle Community Development and Regulatory Improvement Act of 1994. The amendment requires the Secretary of the Treasury (or a designee) to annually testify before the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. The testimony is regarding the operations of the Fund during the previous year. The testimony is provided at the discretion of the Chairs of the relevant committees.

What does CDFI BOND GUARANTEE IMPROVEMENT. of Main Street Act do?

This section modifies the CDFI Bond Guarantee Program, as authorized under section 114A of the Community Development Banking and Financial Institutions Act of 1994. It expresses the sense of Congress that the program provides a sustainable source of long-term capital for community development financial institutions. The program's guarantee amount limitation is set to a minimum of $25,000,000 per guarantee, with a fiscal year cap of $1,000,000,000. The guarantee fee is adjusted to be 'not fewer than 10 basis points and not more than 15 basis points'. The expiration date for the program is extended to December 31, 2028.

What does TAKING ACCOUNT OF INSTITUTIONS WITH LOW OPERATION RISK. of Main Street Act do?

This section requires Federal financial institutions regulatory agencies to consider the risk profile and business models of institutions when tailoring regulatory actions. Agencies must limit the regulatory impact, including costs and resource allocation, on institutions based on their risk profile and business model. Agencies are directed to consider the aggregate effect of regulations on serving customers and local markets, potential undermining of tailoring efforts, and the statutory basis and intent behind regulatory actions. Agencies must disclose and document how they apply these considerations in proposed and final rulemakings. Federal agencies must report annually to Congress on actions taken to tailor regulatory actions. The Comptroller General must evaluate the effects of this section on specified factors and report to Congress. The appropriate Federal banking agencies are required to establish reduced reporting requirements for banks eligible for the Community Bank Leverage Ratio. The appropriate Federal banking agencies must submit a report to Congress on the modernization of bank supervision, including factors such as changing business models, examiner training, and supervisory technology.

What does SMALL BANK HOLDING COMPANY RELIEF. of Main Street Act do?

This section requires the Board of Governors of the Federal Reserve System to revise appendix C of part 225 of title 12, Code of Federal Regulations. The revision must occur within 180 days of the Act's enactment. The revision will raise the consolidated asset threshold to $6,000,000,000 for bank holding companies and savings and loan holding companies.

What does COMMUNITY BANK LEVERAGE IMPROVEMENT AND FLEXIBILITY FOR of Main Street Act do?

This section amends Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act to modify the asset threshold for community banks from $10,000,000,000 to $15,000,000,000. It also adjusts the permissible leverage ratio range for community banks from 'not less than 8 percent and not more than 10 percent' to 'not less than 6 percent and not more than 9 percent'. The Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation are required to propose and finalize rules implementing these amendments within 180 days and 1 year of the Act's enactment, respectively. These agencies are directed to review the Community Bank Leverage Ratio (CBLR) to encourage more qualifying community banks to participate, with a focus on those with fewer assets and regulatory compliance burden relief. A report containing findings and recommendations for modifications to the CBLR, including aspects like calculation, asset treatment, qualifying criteria, and transition mechanisms, must be submitted to Congress within 150 days of enactment.

Back to bills

Main Street Act

Last updated: 4/20/2026 · Introduced: 1/7/2026

Author: J. Hill (R-AR)

TL;DR (AI)

The bill promotes new bank formation by allowing a 3-year phase-in period for depository institutions to meet capital requirements.
Federal savings associations are authorized to make agricultural loans, and a study will assess barriers to new de novo insured depository institutions in underserved areas.
The bill mandates annual reports on depository institution and credit union charter applications, detailing statuses and approval times.
It establishes a 'Least Cost Resolution Exception' allowing alternative methods for exercising authority that may not be the least costly to the Deposit Insurance Fund under specific conditions.
The asset threshold for community banks is increased from $10 billion to $15 billion, and the permissible leverage ratio is adjusted to between 6% and 9%.
Federal financial institutions regulatory agencies must consider the risk profile of institutions when tailoring regulatory actions and limit the regulatory impact on lower-risk entities.
The bill requires studies on bank-Fintech partnerships and their effects on competition, innovation, and consumer protection, with findings to be reported to Congress.

119th Congressin committeeHR. 6550(In Committee)Official page

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