Federal Loan Systems Modernization Act of 2026

Key Points

• This bill creates a centralized website called Lending.gov where Americans can find and apply for any federal government loan in one place, replacing the current patchwork of separate agency systems.
• The General Services Administration must submit a plan to build the platform within 6 months of the bill becoming law, using commercially available loan processing software rather than building custom government systems from scratch.
• Nearly all federal agencies that give out loans must move their systems onto the new platform within 3 years. The requirement covers programs handling more than 50 loans a year or more than $10 million in total lending, though the OMB Director can grant limited exceptions.
• The platform can charge a fee of up to 0.25% on each loan it handles to fund ongoing operations. However, for direct loans to individual borrowers, the fee can only be charged if the agency certifies it won't make the loan less affordable or accessible.
• The bill includes requirements for fraud detection tools, performance dashboards, cybersecurity compliance, and annual satisfaction surveys of agency staff to ensure the platform works well and keeps improving over time.