Memo to HFSC: Views on Legislation for the March 4 – 5, 2026, Full Committee Markup

The American Bankers Association (ABA) commends the House Financial Services Committee for advancing the Amendment in the Nature of a Substitute to H.R. 6955, the Main Street Capital Access Act. This legislation includes many provisions that ABA has long supported, such as measures to spur new bank formation, tailor bank regulation, promote greater transparency and fairness in supervision, encourage healthy merger activity, ensure regulatory accountability, and other important issues.

New Bank Formation. ABA welcomes your efforts to study and incentivize the creation of new banks, which is critical to promoting a robust, diverse banking industry nationwide. Bank consolidation is a long-term trend. In fact, there are 4,316 fewer banks in the U.S. now than in 2005. By facilitating the formation of new banks in urban and rural areas the following sections of the bill are a significant step toward expanding banking access for both individuals and small and medium-sized businesses.

Sec. 101 Promoting New Bank Formation
Sec. 102 New Bank Application Numbers Knowledge
Sec. 103 Rural Depositories Revitalization Studies

Community Investment and Lending. Community development financial institutions (CDFIs) play a critical role in expanding economic opportunity in underserved rural, urban, and Native communities across the country. The measures included in this package will enhance oversight, improve the transparency and effectiveness of existing programs, and help ensure that CDFIs have the tools necessary to support sustainable community development.

Download the memo to read the full text.