States can cap rates on their own banks, not out-of-state ones.
H.R. 7866 — American Lending Fairness Act of 2026 · Filed by Warren Davidson (R-OH) · 7 cosponsors · Introduced Mar 9, 2026 · Reported out
Your members of Congress
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What it does
This bill lets states set their own rate rules for banks they charter. It removes an old federal rule. Now states can only control lenders based in their state. Out-of-state lenders must still follow federal rules.
Who it affects
People who borrow from state banks may face higher rates if their state opts out. People who borrow from out-of-state lenders keep federal protections. Banks and credit unions are affected based on where they are chartered.
One thing to notice
A state that opts out creates two different rules. One applies to its own lenders, one to lenders from other states.
From the analysis of the bill text, linked under Primary records below.
Where it stands
7 cosponsors: 4 Democrats, 3 Republicans.
- Mar 9, 2026 — Introduced · Congress.gov: “Introduced in House”
- Mar 9, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
- Sep 16, 2026 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
- Sep 16, 2026 — Reported out of committee · Congress.gov: “Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 18”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
6 groups reported lobbying about this bill. They filed 6 reports from Jun 2026 to Jun 2026.
Those reports show $3,195,000 in lobbying spending. Each report lists about 13 bills. So that money was not all for this bill.
More groups named this bill than 82% of bills with any report.
Warren Davidson, who sponsored the bill, received $275,400 from PACs for the 2026 election.
- Toyota Motor North America Inc (tma) — $1,930,500 in 1 report
- Consumer Bankers Association — $1,030,000 in 1 report
- American Fintech Council — $110,000 in 1 report
- Bread Financial Payments, Inc. — $50,000 in 1 report
- Bread Financial (fka Alliance Data Systems Corporation) — $40,000 in 1 report
Lobbying is legal. These reports show who lobbied about this bill, not what changed.
Words to know
- chartered — Licensed and approved by a government to operate as a bank or credit union.
- federal — Belonging to the national government, not a state government.
- lobbying — Trying to influence lawmakers about a bill. Companies and groups pay people to do this.
- PACs — Groups that collect money and give it to candidates for office.
- sponsored — To sponsor a bill is to introduce it in Congress and put your name on it.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (1,869 characters) on Jun 3, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,522 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 20, 2026 · page rendered 2026-09-21.
“States can cap rates on their own banks, not out-of-state ones.” QuorumCivic. https://share.quorumcivic.app/bill/119/hr7866/simple Report an error