Main Street Capital Access Act
Summary
If enacted, the bill would likely make it easier for new community banks to form and operate, particularly in rural areas, and would reduce compliance burdens on smaller financial institutions. The bill has passed committee review and is eligible for a floor vote in the House.
AI-generated summary
Lifecycle of the Bill
Committee Consideration and Mark-up Session Held
Mar 4, 2026
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Mar 4, 2026
Mar 4, 2026 · 15:00
Various Measures
Summary
On March 4, 2026, the House Committee on Financial Services held a markup of various measures, considering five bills for advancement to the full House. The bills addressed diverse policy areas: H.R. 4171 (SEED Act) would create a micro-offering exemption for small entrepreneurs raising up to $250,000 in securities without mandatory disclosures; H.R. 6955 (Main Street Capital Access Act) would modernize banking regulations to encourage new bank formation and tailor rules to institutions' size and risk profile; H.R. 7127 (Restoring the Secondary Trading Market Act) would exempt off-exchange secondary trading from state regulation for companies disclosing current information; H.R. 2071 (Save Our Shrimpers Act) would prohibit federal funding to international financial institutions for foreign shrimp farming projects; and H.R. 7688 (DPA Modernization Act) would modernize the Defense Production Act of 1950 to enhance emergency preparedness and supply chain management. The committee approved most bills with strong support. The Save Our Shrimpers Act passed 42-1, while the DPA Modernization Act passed unanimously 41-0. The Main Street Capital Access Act, which received bipartisan backing from banking trade associations, was also approved. However, the SEED Act and Restoring the Secondary Trading Market Act faced opposition from state securities regulators who argued the measures would preempt state oversight and raise investor protection concerns. Markup approval does not guarantee passage. Bills must still be considered by the full House and, if approved there, must pass the Senate and be signed by the President to become law.
