[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3389 Introduced in Senate (IS)]

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116th CONGRESS
  2d Session
                                S. 3389

 To provide the National Credit Union Administration Board flexibility 
    to increase Federal credit union loan maturities, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 4, 2020

    Mr. Scott of South Carolina (for himself and Ms. Cortez Masto) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To provide the National Credit Union Administration Board flexibility 
    to increase Federal credit union loan maturities, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Expanding Access to Lending Options 
Act''.

SEC. 2. POWERS OF FEDERAL CREDIT UNIONS.

    Section 107(5) of the Federal Credit Union Act (12 U.S.C. 1757(5)) 
is amended--
            (1) in the matter preceding subparagraph (A), by inserting 
        ``or up to a term of 20 years as the Board may allow, in 
        regulations'' after ``15 years''; and
            (2) in subparagraph (A)(i), by striking ``or will be the 
        principal residence of a credit union member, and which is''.
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