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American Lending Fairness Act of 2026
To restore and clarify the intent of the Federal interest rate exportation parity for State-chartered banks by allowing States to opt out of preemption only with respect to loans made by their own chartered institutions, and for other purposes.
Summary
The American Lending Fairness Act of 2026 would modify federal banking laws regarding interest rate preemption. The bill would allow individual States to opt out of federal preemption rules that permit out-of-state banks to charge interest rates based on their home state's laws rather than the borrower's state. However, a State's opt-out would only apply to loans made by financial institutions chartered by that State, not to loans made by institutions chartered in other States. The bill would apply these opt-out provisions to both insured depository institutions and credit unions. The bill would also repeal the prior authority for states to opt out of interest rate preemption under older federal law.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
5 cosponsors
Actions (2)
- Mar 9, 2026 Referred to the House Committee on Financial Services. · house
- Mar 9, 2026 Introduced in House
Similar bills (6)
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Full text
IN THE HOUSE OF REPRESENTATIVES
March 9, 2026
Mr. Davidson (for himself and Mr. Barr) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To restore and clarify the intent of the Federal interest rate exportation parity for State-chartered banks by allowing States to opt out of preemption only with respect to loans made by their own chartered institutions, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “American Lending Fairness Act of 2026”.
SEC. 2. INTEREST RATE APPLICABLE TO OUT-OF-STATE CHARTERED FINANCIAL INSTITUTIONS.
(a) Insured Depository Institutions.—Section 27 of the Federal Deposit Insurance Act (12 U.S.C. 1831d) is amended by adding at the end the following:
“(c) If a State adopts a law or certifies that the voters of the State have voted in favor of any provision, constitutional or otherwise, that states explicitly and by its terms that the State does not want this subsection to apply with respect to loans made by institutions chartered by that State, subsection (a) shall not apply to loans made by (or for which a commitment to make such loan was entered into by) such institutions after the date on which that law is adopted or such certification is made.”.
(b) Insured Credit Unions.—Section 205(g) of the Federal Credit Union Act (12 U.S.C. 1785(g)) “is amended” by adding at the end the following:
“(3) If a State adopts a law or certifies that the voters of the State have voted in favor of any provision, constitutional or otherwise, that states explicitly and by its terms that the State does not want this subsection to apply with respect to loans made by institutions chartered by that State, paragraph (1) shall not apply to loans made by (or for which a commitment to make such loan was entered into by) such institutions after the date on which that law is adopted or such certification is made.”.
(c) Repeal.—
(1) In general.—Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 1730g note) is hereby repealed.
(2) Application.—The amendments made by subsections (a) and (b) shall apply with respect to, and govern the legal effect of, any State law adopted or certification made pursuant to section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 1730g note) before the date of enactment of this Act. <all>
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