Expanding Access to Lending Options Act

This bill changes the Federal Credit Union Act's limit on how long federal credit union loans can last. It would let the National Credit Union Administration Board allow loan terms of up to 20 years through regulations, instead of the current general limit of 15 years. It would also remove the requirement that a one-to-four-family home loan under the law's residential real estate exception be for a home that is or will be a credit union member's principal residence.

Full text and official record on Congress.gov

Sponsors

• Catherine Cortez Masto Democrat sponsor
• 4 cosponsors