Main Street Act
Sponsored By: Representative Hill, J. French [R-AR-2]
In Committee
Summary
Tailors federal banking rules to support community and small banks. It would also speed new bank formation and merger reviews while adding formal appeals, agency transparency, and targeted resolution tools.
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- Community banks and new charters: Would phase in federal capital requirements for newly insured institutions over three years and let them request business‑plan deviations with expedited agency action. Raises the Community Bank Leverage Ratio asset cutoff to $15 billion and adds a short‑form Call Report option.
- Rural banks, credit unions, and small institutions: Defines rural depository institutions under a $10 billion asset cutoff and orders studies on rural revitalization. Creates supervisory relief for well‑managed firms with assets $6 billion or less, including limited‑scope exam cycles and combined exam options.
- Mergers, resolution, and oversight: Standardizes merger completeness and decision timelines with a 30‑day completeness check and a 120‑day approval deadline, plus GAO and IG reviews of merger and failure decisions. Establishes an independent Board review for material supervisory determinations and expands transparency about global regulatory engagement.
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Bill Overview
Analyzed Economic Effects
13 provisions identified: 9 benefits, 0 costs, 4 mixed.
Faster exams and independent review
If enacted, the bill would create an independent Office of Examination Review and a three-member Board to investigate complaints and publish annual reports. A bank could seek a de novo independent review of material supervisory findings within 30 days; agencies must give requested factual exam materials within 14 days and the Board must decide or hold a hearing on a fast timeline. The bill would set firm exam deadlines (generally finish exams in 270 days, hold exit interviews within 30 days, and issue final reports within 90 days) and require agencies to offer written, binding advice to institutions on covered actions with 30/60 day timelines. It would also require clearer CAMELS criteria, ban use of the phrase "reputational risk," and let well-run small institutions receive alternating limited-scope or combined exams.
Higher bank size and exam thresholds
This bill would raise many dollar thresholds used in bank regulation. It would change an on-site exam trigger from $3 billion to $6 billion. The Federal Reserve would also be required to raise the small bank asset cutoff in its rules to $6 billion within 180 days of enactment. The bill would also substitute many other statutory dollar amounts (for example, raising $100 billion to $150 billion and $250 billion to $370 billion). These changes would reduce the number of firms covered by some supervisory and statutory triggers if enacted.
Indexing and tailoring bank rules
This bill would require federal regulators to tailor new rules to the risk and business model of affected institutions and to explain that tailoring in every proposed and final rule. It would also make agencies review and raise certain dollar thresholds using current-dollar U.S. GDP: automatic adjustments would begin by April 1, 2031 and repeat every 5 years, with publication and rounding rules. Agencies must review rule-established thresholds by June 30, 2026 and every 5 years using the GDP ratio. The bill would also shorten the cadence for other regulatory reviews to once every 8 years and force agencies to publish internal cumulative-impact analyses.
Review and fix discount window rules
This bill would make the Federal Reserve begin a review of discount window operations within 60 days and finish within 240 days. The review must look at liquidity effectiveness, technology, cybersecurity, communications, operating hours, stigma, and other topics. The Fed must prepare a written remediation plan, report to Congress within 365 days, and give annual progress reports until the plan is fully implemented, at which point the review requirement ends.
Merger, resolution, and concentration rules
This bill would change how troubled-bank deals and mergers are handled to balance competition and stability. The FDIC could, in some resolutions, choose an option that costs more than the least-cost bid to the Deposit Insurance Fund if it limits concentration, subject to a rule within 1 year and a report to Congress within 30 days. Agencies could allow narrow exceptions to statutory concentration limits for failing or FDIC-assisted transactions only when clear and convincing evidence shows it is needed and no qualified bidder is available. The bill would shorten and set firm merger-review timelines, require reports when waivers are used, tighten criteria for Board consent, and direct GAO and Inspectors General to study merger procedures and publish findings.
Easier capital rules for community banks
This bill would expand and speed Community Bank Leverage Ratio (CBLR) access. It would raise the asset cutoff to $15 billion and change the CBLR range to 6–9 percent, with agencies required to propose rule changes within 180 days and finalize them within a year. Newly insured banks would get a three-year phase-in to meet federal capital rules, and rural de novo banks could use a lower CBLR (capped at 7.5%) during their first three years. The bill would also require regulators to review the CBLR and report within 150 days and create a short-form Call Report for banks that opt into the CBLR.
Change CDFI bond guarantee rules
The bill would change the Community Development Financial Institution (CDFI) Bond Guarantee Program. It would ban guaranteeing any single issuance below $25 million and cap total guaranteed issuance at $1 billion per year. The program fee would be set between 10 and 15 basis points and the program deadline would be extended to December 31, 2028. These changes would favor larger bond issuances but could exclude smaller projects that previously qualified.
Deposit funding and custody rules
The bill would relax some deposit-broker rules and clarify agent rules while adding limits on undercapitalized banks. Eligible small banks (under $10 billion and meeting rating or exam criteria) could treat up to 20 percent of liabilities in custodial deposits as not brokered. Agent banks would be allowed tiered exclusions of reciprocal deposits (50% up to $1 billion, 40% on the next $9 billion, 30% on the next up to $240 billion). The FDIC could let an agent institution keep prior exceptions by waiver in certain safety cases. At the same time, banks that accept custodial deposits while not well capitalized could not pay rates that "significantly exceed" local or FDIC national reference rates.
Federal savings banks can make farm loans
This bill would let federal savings associations make agricultural loans, secured or unsecured, for farming purposes. The change would amend the Home Owners' Loan Act and take effect upon enactment. If enacted, this could expand credit options for small farmers and rural borrowers.
Clear notice that guidance is not law
The bill would require several financial agencies to put a clear statement on the first page of any guidance saying the guidance does not have the force of law, does not create legal rights or obligations, and that failing to follow it alone does not establish a legal violation. It would apply to guidance issued on or after enactment and defines what counts as guidance and some excluded documents. This aims to reduce legal uncertainty for regulated firms.
Report on global rulemaking work
This bill would make the Comptroller of the Currency include a yearly report describing its interactions with certain global bank-regulatory forums. The report would list issues discussed, the Comptroller's positions, and an analysis of expected costs and benefits for affected rules. It names the covered international forums and requires an economic-impact explanation in the annual report.
Study bank–fintech partnerships
The bill would require bank regulators to study partnerships between banks, credit unions, and fintech firms and report to Congress within one year. The studies must examine effects on product availability, competition, new bank formation, time to market, compliance burdens, customer acquisition, technology, and funding. Agencies must include recommendations for legal or regulatory changes to encourage beneficial partnerships.
Bank board, investor, and hold rules
The bill would change FDIC Board appointment rules and term limits. One presidential appointee must have State bank supervisory experience and one must have primary experience with banks under $17 billion. No person could serve more than two terms or more than 12 years total, and appointees must be U.S. citizens. The bill would also lengthen the permitted holding period for merchant banking investments to at least 15 years.
Sponsors & CoSponsors
Sponsor
Hill, J. French [R-AR-2]
AR • R
Cosponsors
Barr
KY • R
Sponsored 1/7/2026
Rep. Huizenga, Bill [R-MI-4]
MI • R
Sponsored 1/7/2026
Lucas
OK • R
Sponsored 1/7/2026
Sessions
TX • R
Sponsored 1/7/2026
Rep. Wagner, Ann [R-MO-2]
MO • R
Sponsored 1/7/2026
Rep. Williams, Roger [R-TX-25]
TX • R
Sponsored 1/7/2026
Emmer
MN • R
Sponsored 1/7/2026
Loudermilk
GA • R
Sponsored 1/7/2026
Davidson
OH • R
Sponsored 1/7/2026
Rose
TN • R
Sponsored 1/7/2026
Rep. Steil, Bryan [R-WI-1]
WI • R
Sponsored 1/7/2026
Timmons
SC • R
Sponsored 1/7/2026
Stutzman
IN • R
Sponsored 1/7/2026
Norman
SC • R
Sponsored 1/7/2026
Rep. Meuser, Daniel [R-PA-9]
PA • R
Sponsored 1/7/2026
Rep. Kim, Young [R-CA-40]
CA • R
Sponsored 1/7/2026
Rep. Donalds, Byron [R-FL-19]
FL • R
Sponsored 1/7/2026
Rep. Garbarino, Andrew R. [R-NY-2]
NY • R
Sponsored 1/7/2026
Fitzgerald
WI • R
Sponsored 1/7/2026
Rep. Flood, Mike [R-NE-1]
NE • R
Sponsored 1/7/2026
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 1/7/2026
Rep. De La Cruz, Monica [R-TX-15]
TX • R
Sponsored 1/7/2026
Rep. Ogles, Andrew [R-TN-5]
TN • R
Sponsored 1/7/2026
Rep. Nunn, Zachary [R-IA-3]
IA • R
Sponsored 1/7/2026
McClain
MI • R
Sponsored 1/7/2026
Salazar
FL • R
Sponsored 1/7/2026
Rep. Downing, Troy [R-MT-2]
MT • R
Sponsored 1/7/2026
Haridopolos
FL • R
Sponsored 1/7/2026
Moore (NC)
NC • R
Sponsored 1/7/2026
Rep. Kennedy, Mike [R-UT-3]
UT • R
Sponsored 1/12/2026
Knott
NC • R
Sponsored 1/22/2026
Rep. Calvert, Ken [R-CA-41]
CA • R
Sponsored 3/9/2026
Fedorchak
ND • R
Sponsored 3/26/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov