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S3616119th CongressWALLET

Expanding Access to Lending Options Act

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

More lending flexibility for federal credit unions. This bill would let the National Credit Union Administration Board allow loan terms up to 20 years and remove a rule that required some loans to be tied to a member's principal residence.

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  • Families and borrowers: Members could access loans with maturities up to 20 years and could obtain loans not limited to their main home.
  • Federal credit unions: Credit unions could offer longer-term loans and broaden the types of loans they make because the principal-residence qualifier is removed.
  • Regulators: The National Credit Union Administration Board would get explicit authority to permit up to 20-year loan terms through regulation.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More credit union loan options

If enacted, this bill would let certain federal credit union loans have terms up to 20 years instead of 15, but only if the NCUA Board issues rules allowing the longer terms. It would remove the rule that the financed property must be the member's principal residence for loans under the listed authority. You would be able to get some real-estate-backed credit union loans even if the property is not your main home. These changes would apply to loans authorized under Section 107(5) and would take effect upon enactment.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 1/13/2026

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 1/15/2026

  • Sen. Justice, James C. [R-WV]

    WV • R

    Sponsored 4/21/2026

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 9/28/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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