Government Executive – Technology

Agencies Could Be Required to Move Loan Systems to 1 Platform Under Bipartisan Bill

Bipartisan legislation (H.R. 7789 and S. 3980) would require federal credit agencies to move their loan‑management systems onto a single shared‑services platform, Lending.gov, or justify exemptions. The bill targets a $5 trillion loan portfolio spread across roughly 20 agencies, from student aid to small‑business financing. Proponents argue the consolidation will curb billions in fraud, lower taxpayer costs, and provide a more user‑friendly borrower experience. Implementation hinges on a six‑month OMB‑guided plan that details migration sequencing, ownership, and funding.