Joint Trades Letter to Congress on the American Lending Fairness Act of 2026

Dear Chairman Hill and Ranking Member Waters,

The signatories to this letter represent a broad and diverse group of financial institutions that offer a wide range of financial products in the American lending marketplace. We write to express support for the bipartisan American Lending Fairness Act of 2026 (ALFA), introduced as H.R. 7866 by Rep. Warren Davidson (R-OH). Co-sponsors include Reps. Andy Barr (R-KY), Vincente Gonzalez (D-TX), Young Kim (R-CA), Josh Gottheimer (D-NJ), Scott Fitzgerald (R-WI), Sarah McBride (D-DE), and Steven Horsford (D-NV). We are pleased to see that the bill is scheduled for markup at the Committee’s meeting on September 16.

This critical legislation narrowly amends the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA), legislation that passed the House by a vote of 380-13 and the Senate by a vote of 76-9 before being signed into law by President Jimmy Carter. Specifically, ALFA clarifies the appropriate, limited scope of DIDMCA’s opt-out provision and preserves DIDMCA’s intent of parity amongst state-chartered depository institutions and national banks.

The Conference of State Bank Supervisors (CSBS) supports this legislative clarification, emphasizing that ALFA would "preserve each state's authority to establish the rules governing its own chartered institutions, restore certainty to the DIDMCA framework, and reinforce the interstate lending parity that Congress originally intended."

Download the joint trades letter to read the full text.