Andy Barr · TranslatePolitics.com

House of Representatives

Main Street Capital Access Act

2026-07-21

“I want this bill to pass. It will help small banks and credit unions. That's good for business. It's good for local economies. Big banks are bad. Small banks are good. We need more competition. This bill will help small banks compete with big banks. Regulation is bad for small banks. This bill will reduce regulation for small banks. That's good for everyone. I want you to support this bill.”

Official Congressional Record

Mr. Speaker, I want to start by applauding my good friend from Arkansas, Chairman French Hill, for his leadership on this critical legislation. Great job working across the aisle for bipartisan support for this legislation that will help strengthen Main Street America. The Main Street Capital Access Act is exactly the kind of reform needed to advance this committee's goal of making community banking great again. Over the past 18 months, we have worked hard to develop over two dozen banking reform bills--many of them with strong bipartisan support--and combined them into one multifaceted package designed to strengthen our community financial institutions, not big banks, like the ranking member is referring to, community banks, Main Street banks, midsize banks. If we want to help hold big banks accountable, then what we need is competition. Competition and choice are good for America, good for consumers, and good for financial stability. Mr. Speaker, I include in the Record a link to 14 letters of support from the Consumer Bankers Association, the American Bankers Association, the Bank Policy Institute, the Independent Community Bankers of America, the National Association of Home Builders, and others: https://acrobat.adobe.com/id/urn:aaid:sc:US:4c869bbb-74d2-4d1e- befb-1b3aba1a0be3 Community banks and credit unions are the financial backbone of this country. They finance farms, factories, first-time home buyers, and the local entrepreneurs who create jobs in every corner of America. These institutions don't just serve communities. They are part of the community. Here is the hard truth: Community banks have suffered under a regulatory framework that forgot who the system should serve. For too long, Washington has been writing rules as if every bank and credit union in America is a trillion-dollar global institution. They are not. They are our hometown banks and community financial institutions. These guardrails that the ranking member talks about rolling back, we are not rolling back guardrails for big, multitrillion-dollar banks. We are talking about small community financial institutions. The goal is simple: Regulation should follow the risk, not the ZIP Code or the political fashion. A $500 million community bank in rural Kentucky, rural Arkansas, or rural Michigan should not be regulated under the same framework built for a trillion-dollar institution operating around the globe. That means higher costs, fewer loans, more forced consolidation. This hurts everyday Americans by reducing both access to credit and opportunities for small business growth. The Main Street Capital Access Act is about changing that. It is about rightsizing this regulatory framework to ensure that community lenders get back to what they do best: serving their customers and their communities. Main Street opens the door for new bank formation, improving transparency in the chartering process, making applications more predictable, and ensuring rural and underserved communities can once again see new institutions formed instead of watching their local banks disappear. You want to hold big banks accountable? Allow new banks to form. It also restores proportionality to regulation, updating capital leverage and enhanced prudential standards to actually reflect a bank's risk profile, not just an arbitrary static asset threshold. That means less money spent on regulatory gymnastics and more money available for loans in your communities. We are also bringing fairness and due process back to the supervision process. Banks and credit unions should not be governed by opaque examiner preferences. They should be governed by clear risk-based and transparent standards that focus on core financial performance rather than foot faults and check-the-box compliance. Main Street also addresses the structural problems that are driving consolidation. This legislation requires regulators to ensure clarity and predictability in the merger process so that healthy banks can grow and troubled banks can find partners before they fail. It ensures that when banks do fail, like Silicon Valley Bank, community banks aren't shut out of the resolution process by design. Finally, this legislation recognizes reality: Innovation is happening. The question is whether it happens inside the banking system, where it is supervised and safe, or outside, where it isn't. This bill lets banks partner, modernize, and compete. Community banks, Mr. Speaker, are the financial infrastructure of America--rural America, suburban America, urban America. When they thrive, small towns thrive. When they are regulated out of existence, capital dries up and opportunity for local ownership disappears. The Main Street Capital Access Act is a critical step toward restoring the financial backbone of this country. Mr. Speaker, I urge all my colleagues to support this legislation.

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House of Representatives

Protecting Privacy in Purchases Act

2026-07-14

“I want to talk for this bill. I want to thank the people who worked on this bill. I want to say this bill protects privacy. I want to say this bill stops the government from tracking people who buy guns. I want to say the government should not track people who buy guns. I want to say the government should not pressure banks to track people who buy guns. I want to say the government should not make lists of people who buy guns. I want to say buying a gun is not suspicious activity. I want to say this bill does not stop the government from investigating crime. I want to say the government should not blame guns for violence. I want to say the government should focus on other causes of violence. I want to say this bill stops the government from abusing its power. I want you to vote for this bill.”

Official Congressional Record

Mr. Speaker, I rise today in support of H.R. 1181, the Protecting Privacy in Purchases Act. I thank my friend, the gentleman from Arkansas, the chairman of the Financial Services Committee, for his leadership on the bill and for yielding. I am proud to be a cosponsor of this legislation. I thank Congressman Riley Moore for his leadership on this important bill. I thank Congressman Richard Hudson for his longstanding work defending the constitutional rights of law-abiding citizens, and our colleague from New York, Elise Stefanik, for her original introduction of this bill in several previous Congresses. At its core, this bill is about protecting privacy and preventing government surveillance on citizens simply for exercising their constitutionally enshrined Second Amendment rights. H.R. 1181 prohibits payment card networks and financial institutions from requiring or assigning merchant category codes, or MCCs, that single out firearm retailers for separate tracking and monitoring. Unfortunately, we have seen repeated examples of progressive regulators and government officials pressuring financial institutions to target lawful industries and lawful customers. From Operation Choke Point under the Obama administration and Choke Point 2.0 under Biden to New York financial regulators pressuring insurance companies to abandon longstanding relationships with the NRA, Americans have legitimate reasons to be concerned about the weaponization of the financial system. Despite what those on the other side of the aisle may say, this bill does nothing to prevent law enforcement or regulators from investigating criminal activity, nor does it change the stringent requirements on financial institutions to comply with existing anti- money laundering laws or suspicious activity reporting requirements. However, what my friend from California who just spoke doesn't say, but it needs to be said, is that the lawful purchase of a firearm protected by the Second Amendment is not in and of itself suspicious activity, nor should it be surveilled by the government. What it does is prevent the creation of a framework that could be used to monitor, flag, and discourage lawful purchases from federally licensed firearm retailers. This is about preventing government actors from using financial data to target Americans who are engaged in conduct expressly protected by the Second Amendment's right to keep and bear arms, a fundamental liberty for Americans. Americans should not have to worry that lawful purchases that they made will be used to create lists, databases, or surveillance tools aimed at this constitutionally protected activity. My friend, the ranking member from California, cited statistics about annual and daily deaths that she says are the result of gun violence. Respectfully, the right to bear arms is not the cause of violence. One murder is too many in America, period. We all agree on that. Rather than blaming gun violence, Congress would be more productive focusing on the root causes of homicide: the breakdown of the family, lack of active parenting, mental illness, open-border policies, policies to defund the police, soft-on-crime policies like no cash bail, and politically motivated violence, like the kind that was behind the murder of Charlie Kirk. Addressing these societal problems does not require unconstitutional surveillance of Americans. H.R. 1181 establishes commonsense guardrails to prevent regulatory abuse and safeguards constitutional freedoms. Mr. Speaker, I urge my colleagues to support this legislation.

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