[Congressional Record Volume 172, Number 122 (Monday, July 27, 2026)]
[Extensions of Remarks]
[Pages E739-E740]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     MAIN STREET CAPITAL ACCESS ACT

                                 ______
                                 

                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                         Tuesday, July 21, 2026

  Ms. McCOLLUM. Mr. Speaker, I rise in opposition to H.R. 6955, the 
Main Street Capital Access Act.
  At a time when families are struggling with the cost of living, this 
bill could make it even

[[Page E740]]

worse. H.R. 6955 loosens guardrails on Wall Street banks that are 
already posting record profits. The bill would further weaken the 
Consumer Financial Protection Bureau, the agency Congress built to 
protect consumers from junk fees, medical debt abuses, and unfair debt 
collection, at the very moment financial scams are costing Americans 
tens of billions of dollars. And on top of that, it weakens community 
reinvestment and anti-discrimination protections.
  This package bundles 24 Republican bills with just 2 Democratic ones, 
and it is loaded with poison pills. One provision would even let Wells 
Fargo delay enforcement action against future harm. We can and must do 
better to protect our constituents, and the small banks that work to 
reinvest in our communities.
  Let me be clear, while I oppose this bill, I remain a strong 
supporter of our community banks and Community Development Financial 
Institutions (CDFI) and their ability to compete fairly with the Wall 
Street megabanks. That is why I supported real, bipartisan community 
bank reforms in the 21st Century Road to Housing Act. This bill is not 
that, nor is it the reform that our community banks and CDFIs need to 
better help our community. Instead, H.R. 6955 is dressed up as help for 
community banks, when it will mostly benefit Wall Street.
  I look forward to working with my colleagues to bring real reforms to 
the community banks that anchor our main streets. I urge my colleagues 
to vote no on H.R. 6955.

                          ____________________