Fitzgerald Banking Reform Bills Included in House-Passed Main Street Capital Access Act

WASHINGTON, DC - Today, the U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access Act, comprehensive legislation to modernize the nation's banking regulatory framework to strengthen community banks.

This legislation includes three bills introduced by Congressman Scott Fitzgerald (WI-05): the Bank Competition Modernization Act, the Halting Uncertain Methods and Practices in Supervision (HUMPS) Act, and the Merger Agreement Approvals Clarity and Predictability Act. It also includes the Bank Failure Prevention Act, which Congressman Fitzgerald co-led with Congressman Andy Barr (KY-06).

"Community banks are essential to Wisconsin's families, farmers, and small businesses, but Washington has buried them under red tape and an unpredictable regulatory system for far too long," said Congressman Scott Fitzgerald. "The Main Street Capital Access Act reins in unelected regulators, increases accountability, and gives community banks the certainty they need to grow, compete, and serve their customers. I am proud that several of my bills are included in this package, and I look forward to working with my Senate colleagues to get these reforms to President Trump's desk."

More on Congressman Fitzgerald's provisions in the legislation:

• Bank Competition Modernization Act: Modernizes outdated bank merger review standards. Specifically, the bill creates a $10 billion asset threshold, adjusted for growth in nominal GDP, under which federal banking regulators provide a safe harbor from the Department of Justice's (DOJ) competition analysis, allowing small community banks to grow and achieve operational efficiencies without the delays associated with the DOJ's competition review.
  
• Halting Uncertain Methods and Practices in Supervision (HUMPS) Act: Strengthens transparency in how banks are evaluated. Specifically, it directs the Federal Financial Institutions Examination Council (FFIEC) to revise the CAMELS rating system by establishing clear, objective standards for each component and updating the formula used to calculate a bank's overall rating. It also calls for eliminating or reforming the subjective "Management" component, focusing instead on measurable risk governance and internal controls.
  
• Merger Agreement Approvals Clarity and Predictability Act: Addresses political intrusion into the regulatory approval process for bank mergers and acquisitions. Specifically, the bill requires the Government Accountability Office (GAO) to conduct a thorough review of how federal regulators use commitments and conditions when approving mergers of insured depository institutions. It also directs GAO to determine whether regulators rely on extrastatutory considerations, such as policy preferences or non-statutory goals, when conditioning merger approvals.
  

• Bank Failure Prevention Act: Enhances competition in the U.S. banking system. Specifically, it ensures bank regulators make timely decisions on mergers to bring certainty to bank competition and consumer needs.

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