Reg Relief Bill Moves Forward

The House Financial Services Committee recently advanced H.R. 6955, the Main Street Capital Access Act, marking a significant step toward reshaping the regulatory landscape for community banking in the United States. Approved by a 26–16 vote on March 4, 2026, the legislation reflects a broader push to expand access to capital and strengthen local financial institutions.

At its core, the bill is designed to reduce regulatory burdens that many policymakers argue have constrained small and mid-sized banks since the passage of the 2010 Dodd-Frank Act. The legislation includes provisions to encourage the formation of new “de novo” banks, which have declined sharply since then, partly due to high compliance costs and capital requirements. By allowing new banks to phase in capital requirements over time and by raising key regulatory thresholds, the bill aims to create a more accessible pathway for new entrants into the banking system.

In addition, H.R. 6955 tailors regulations based on the size and risk profile of financial institutions, easing compliance for community banks while maintaining oversight of larger, more complex firms. It also introduces reforms to bank supervision, funding mechanisms, and merger approvals, all intended to promote competition and improve efficiency in the financial sector.

Supporters, including major banking groups, argue the bill will revitalize community banking and improve access to credit for small businesses and rural communities. Sponsored by House Financial Services Committee Chairman French Hill (R-Ark.) and Financial Institutions Subcommittee Chairman Andy Barr (R-Ky.), these two are Congressional leaders that have been supported by Friends of Traditional Banking.

As the legislation moves toward consideration by the full House, it represents a pivotal moment in the ongoing debate over how best to balance financial stability with economic growth on Main Street. It also underscores the value of electing friends to Congress!

Miller Named to Represent Nevada on Banker Board

Josh Miller, CEO of KeyState, has been appointed to represent Nevada on FOTB’s Nationwide Banker Board. Miller joined KeyState in 1998 and has served as CEO since 2011. KeyState works with over 150 community banks across the US, managing their tax-advantaged investment and insurance structures. Under his leadership, the firm’s registered investment advisory business has grown to more than $18 billion in assets under management.

In 2019, Miller launched KeyState’s SOLCAP solar tax credit investment platform, which sources, deploys, and manages solar tax credit investments for community banks. To date, SOLCAP has deployed and committed over $1 billion solar tax equity, financing more than 200 solar projects across the US.

Miller received his B.A. in Economics and Foreign Affairs from the University of Virginia. He serves on the board of directors of Bankers’ Bank (Madison, WI) and is President and Director of the Nevada Captive Insurance Council.

BANKER NEWS BITS:

• Rep. Andy Barr Applauds 'Balanced' Shift in Basel III Banking Regulations to Protect Local Lending, explains Clay County News. Congressman Barr emphasized that "right-sizing" these regulations is essential to ensure that capital standards do not inadvertently stifle lending at the local level. The Basel III standards are designed to ensure banks have enough capital to survive economic shocks, but critics—including Barr—have argued that overly broad rules could impede credit access for small businesses and households.

• "I am Auntie Maxine" Politico reports that California Democrat Maxine Waters, 87, has all but locked down a second turn as chair of the House Financial Services Committee if her party wins a majority in November. It means the committee could soon have the oldest leader in its history as it grapples with technological shifts like cryptocurrency, and Democrats look to aggressively ramp up oversight of the president, his family business and his Wall Street regulators.

• Senate Banking Committee eyes April vote on crypto market structure bill, Sen. Cynthia Lummis says in an article in The Block. A pivotal Senate panel plans to hold a hearing to amend and vote on a broad cryptocurrency market structure bill, potentially unlocking the next step to pass legislation. The Senate Banking Committee will hold that markup before the end of April, Sen. Cynthia Lummis, R-Wyo., told an audience at the DC Blockchain Summit in Washington, D.C. "We're going to mark it up in April, we're going to mark it up after the Easter recess," Lummis said. 

• In an op-ed in the Bowling Green Daily News, Bluegrass Community Bankers Association Executive Director Jim Decesare noted Kentucky’s budget shortfall could be fixed if credit unions paid taxes like community banks. Credit unions’ tax exemption costs Kentucky tens of millions of dollars each year. Kentucky community banks in 2024 paid $204 million in income taxes. Large credit unions use their tax advantage to fuel expansion, including acquiring community banks. Kentucky lawmakers should level the playing field to ensure that growth in the financial system benefits the people who live and work in the state, Decesare said.

SPONSOR'S CORNER

A New Era for Community Banking: Simplifying IT. Amplifying Impact.

A message from our sponsor BankOnITUSA:

UFS and BankOnIT, two leading providers of purpose-built technology for community banks, announced that they are uniting to form a single organization to meet the evolving IT needs of community financial institutions.

Strategic Union to Strengthen Community Banking

By joining forces, the two companies combine deep industry expertise and focus, complementary offerings, and a shared belief that when community banks are equipped with the right technology and service, they can deliver extraordinary impact to the communities they serve.

Together, they are expanding the technology choices and delivery models available to community banks—providing institutions with greater flexibility, choice, simplicity, and long-term support.

See the full press release from UFS and our platinum sponsor, BankOnIt HERE: https://ufstech.com/ufs-and-bankonit-unite-to-expand-possibilities-for-community-banks/

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