Expanding Access to Lending Options Act This bill allows the National Credit Union Administration Board to increase the federal credit union loan maturity cap from 15 to 20 years. It also removes as a requirement for a mortgage from a credit union that a property must be a credit union member's principal residence.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Banking and financial institutions regulationCredit and credit marketsHousing finance and home ownership
Expanding Access to Lending Options Act
USA117th CongressS-762| Senate
| Updated: 3/16/2021
Expanding Access to Lending Options Act This bill allows the National Credit Union Administration Board to increase the federal credit union loan maturity cap from 15 to 20 years. It also removes as a requirement for a mortgage from a credit union that a property must be a credit union member's principal residence.