The American Lending Fairness Act of 2026 would allow individual states to opt out of federal interest rate rules, but only for loans made by banks and credit unions chartered within their own state. Currently, federal law allows banks and credit unions from one state to charge the interest rates permitted in their home state when making loans to people in other states—a practice called "interest rate exportation." This bill would let states block that practice for their own state-chartered lenders while still allowing out-of-state lenders to export their rates. The bill applies to both banks (under the Federal Deposit Insurance Act) and credit unions (under the Federal Credit Union Act) and would take effect once a state passes a law or voters approve a measure explicitly opting out. No specific funding or implementation timeline is specified in the legislation.
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