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119-s-3889119th CongressWALLET
American Lending Fairness Act of 2026
Sponsored By: Senator Moreno, Bernie [R-OH]
Introduced
Summary
This bill would let states choose that loans made by their own state-chartered banks and credit unions be governed by state law instead of federal preemption. It centers on state control over loan terms for state‑chartered lenders.
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- States could adopt laws or certify voter measures to opt their own state‑chartered lenders out of federal preemption, letting state law govern those in‑state loans.
- State‑chartered banks and credit unions would have loans they make after adoption or certification treated under their state’s rules rather than the federal preemption.
- Borrowers in states that opt out could see loan terms change, potentially including interest‑rate rules and other contract terms for loans from state‑chartered institutions.
- The bill covers earlier state actions taken under the 1980 Depository Institutions Deregulation and Monetary Control Act, so the change applies retroactively to those cases.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
States can opt out for local lenders
If enacted, this bill would let a State opt out of a federal preemption for loans made by banks and credit unions chartered in that State. The State must adopt a law or certify that voters explicitly approved opting out. The opt-out would apply only to loans made by, or committed to by, those state-chartered lenders after the adoption or certification date. The bill would also repeal former Section 525 and say the new opt-out rules govern any prior State actions taken under that old provision. Borrowers in opting-out States would see state law, not that federal subsection, govern loan terms and might face different rates or protections.
Sponsors & CoSponsors
Sponsor
Moreno, Bernie [R-OH]
OH • R
Cosponsors
Sen. Lee, Mike [R-UT]
UT • R
Sponsored 9/29/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov