House Sends Bank Deregulation Package to Senate

The Main Street Capital Access Act, or H.R. 6955, is a 25-bill banking package led by House Financial Services Committee Chairman French Hill and Financial Institutions Subcommittee Chairman Andy Barr. It seeks to spur new bank formation, tailor regulation to lenders’ risk profiles and business models, and ease oversight of community institutions. Among its provisions, the measure raises the small bank holding company asset threshold to $25 billion from $3 billion. Supporters say the changes would bolster local lending, while critics warn they could weaken safeguards and consumer protection.

The House passed H.R. 6955 on July 21, 2026, by a 270-155 vote, with one member voting present, sending the measure to the Senate after the Financial Services Committee advanced it 26-16 on March 5. The bill also lifts the asset ceiling for banks eligible for the Community Bank Leverage Ratio framework to $15 billion from $10 billion and lowers the statutory ratio range to 6%-8% from 8%-10%. Despite bipartisan House support, the package faces a tougher Senate path, where 60 votes would typically be needed to overcome a filibuster amid Democratic opposition.