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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
This bill would modify federal law governing interest rate regulations for state-chartered banks and credit unions by allowing states to opt out of federal preemption with respect to loans made by their own state-chartered institutions. Currently, federal law allows banks to charge interest rates based on the rate permitted in the state where they are headquartered, not where the borrower lives. The bill would permit states to adopt laws or hold voter referendums to exclude state-chartered lenders from this federal preemption, allowing the state to apply its own interest rate regulations to loans from institutions chartered in that state. The bill would repeal the previous federal provision governing state opt-outs and clarify that existing state laws under the prior provision would continue to apply under this new framework.
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)
- Sen. Moreno, Bernie [R-OH] (R-OH)
Actions (2)
- Feb 12, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Feb 12, 2026 Introduced in Senate
Similar bills (6)
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Full text
IN THE SENATE OF THE UNITED STATES
February 12, 2026
Mr. Moreno introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
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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