How do Reformed Protestants interpret Matthew 18:18? How do Reformed Protestants interpret Matthew 18:18?

Truly, I say to you, whatever you bind on earth shall be bound in heaven, and whatever you loose on earth shall be loosed in heaven. - Matthew 18:18

I am seeking answers from Christians under the Reformed Protestant denomination (e.g. Presbyterian, Calvinists) which upholds onto the 5 solas of the Reformation (sola fide, sola christus, sola scriptura, sola gratia, sola deo gloria)
Calvin writes a commentary which address this passage in some detail. He summarises it as follows:

The substance of it is this: Whoever, after committing a crime, humbly confesses his fault, and entreats the Church to forgive him, is absolved not only by men, but by God himself; and, on the other hand, whoever treats with ridicule the reproofs and threatenings of the Church, if he is condemned by her, the decision which men have given will be ratified in heaven.

Calvin's point is that since Christ is the head of the church, the church does Christ's will. If the church chooses to forgive or reject, that is because Christ has chosen to forgive or reject.

For, though Christ alone is the Judge of the world, yet he chooses to have ministers to proclaim his word. Besides, he wishes that his own decision should be pronounced by the Church; and thus he takes nothing from his own authority by employing the ministry of men, but it is Himself alone that looses and binds.

Calvin continues to discuss several objections to and particulars of this teaching, which I won't repeat here.