Recently, Community Financial Services Bank (CFSB) leadership joined advocates from across the country on Capitol Hill for the unveiling of the Main Street Capital Access Act (H.R. 6955), a legislative proposal aimed at strengthening community banks and fueling economic growth where it matters most.
Representing CFSB at the announcement were CEO Michael Radcliffe and President Jason Jones, who joined leaders from the Bluegrass Community Bankers Association (BCBA). The bill was introduced by members of the House Financial Services Committee to tailor regulations, ease excessive capital requirements, and support community-focused financial institutions like CFSB. Proponents say these measures can help revitalize local banking and promote sustainable lending to small businesses, families, and rural economies.
“Engaging in the legislative process is critical for the survival of hometown community banks like CFSB,” said Radcliffe. “Years of a ‘one size fits all’ approach to regulation has taken a toll on community banks, driving up costs and ultimately forcing local banks to sell because they can’t afford to keep up with compliance costs. Community banks are the lifeblood of our local communities and the economic engines that power the creation of small businesses. We must make our voices heard to ensure our local communities have access to the financial resources they need.”
The Main Street Capital Access Act reflects ongoing efforts by the Independent Community Bankers of America (ICBA) and lawmakers to modernize and tailor bank regulation so community banks can more effectively serve their customers. By helping reduce unnecessary regulatory burdens while maintaining safety and soundness, this legislation aims to preserve the unique role community banks play.
CFSB continues to advocate for policies that protect and empower community banks and the communities it serves.
