Washington, July 21 -- Congressman Troy Downing issued the following press release:
Today, the U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access Act, legislation cosponsored by Congressman Troy Downing, to encourage new bank formation and help community lenders better serve families, small businesses, and rural communities across Montana.
The Main Street Capital Access Act reduces regulatory barriers that have made it increasingly difficult to establish and grow community banks. For years, smaller financial institutions have been subjected to many of the same rules designed for the nation's largest banks. These one-size-fits-all requirements have limited local lending and discouraged the creation of new banks,...