HR7789Referred to Committee
Federal Loan Systems Modernization Act of 2026
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2026-03-04
Introduced
1
Cosponsors
HR
ⓘType
Sponsor
Brad Finstad
Republican · MN · Representative
Votes with party: 98.5% (548 recorded votes)
Full profile: /officials/F000475
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Plain-English Summary
This bill would update the technology and processes used by federal loan programs to make them more efficient and easier for borrowers to use. The changes would likely affect federal student loans, small business loans, and other government lending programs by modernizing outdated computer systems and streamlining how applications are processed. The goal is to reduce errors, speed up loan approvals, and improve the overall experience for the millions of Americans who borrow from federal programs.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Subjects
Finance and Financial Sector
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