Bill · H.R. 7789· House(119-HR-7789)
Federal Loan Systems Modernization Act of 2026
- Introduced
- 3/4/2026
- Last activity
- 3/4/2026 — Referred to the House Committee on Oversight and Government Reform.
- Sponsored by
- Brad Finstad
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Federal Loan Systems Modernization Act of 2026," authorizes the creation of a centralized platform called "Lending.gov." The platform is intended to serve as a single source of access for loans provided by various Federal agencies. By utilizing modern, commercially available technology, the act aims to streamline loan management and administrative activities. The goal is to reduce costs, prevent fraud, and increase the speed of loan origination. Additionally, the bill seeks to improve transparency, access, and the overall customer experience for Federal loan programs.
Yes· 3 of 11
Does this make what the government does easier for the public to see?+4
The platform is intended to improve transparency regarding Federal loan programs.
Does this give people more protection from unfair business practices?+3
The platform includes tools for fraud detection and improved transparency for loan applicants.
Does this give people more control over their personal data?+3
The bill mandates compliance with federal privacy and data governance standards.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Improved Access and Customer Experience: The platform aims to mitigate difficulties consumers face when trying to access Federal loan programs through a dedicated application platform (Section 3).
-
Increased Efficiency and Speed: The use of modern technology is intended to increase the speed of loan origination and streamline administrative activities such as application intake and underwriting (Section 2, Section 3).
-
Fraud Prevention: The creation of the platform and the integration of specific tools are designed to help prevent fraud within Federal credit programs (Section 3, Section 5).
-
Cost Reduction: The bill seeks to reduce costs associated with managing multiple Federal lending processes (Section 3).
-
Improved Transparency: The platform is intended to improve transparency regarding Federal loan programs (Section 3).
Potential Negative Impacts for People
-
Potential Financial Burden via Fees: The Provider may collect a remittance fee for each Federal loan serviced through the Platform (Section 8).
-
Risk to Individual Borrower Affordability: While there are limits on fees for direct loans to individuals, such fees can only be assessed if the agency head certifies they will not materially impair borrower affordability or program access (Section 8).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+4Improves Privacy Rights+2Increases Federal Power+2
- Economy And Finance
- Improves Consumer Protection+3Improves Fiscal Responsibility+2Reduces Government Spending+2
- Demographic And Interest Groups
- Good For Low Income Households+2Good For Students+2Good For Middle Class Households+1
- Education And Technology
- Improves Data Privacy+3
- National Security And Foreign Policy
- Improves Cybersecurity Defense+3
- 3/4/2026
- Referred to the House Committee on Oversight and Government Reform.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Raja KrishnamoorthiDemocrat · Illinois