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II
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) intro-
duced the following bill; which was read twice and referred to the Com-
mittee on Banking, Housing, and Urban Affairs
A BILL
To provide the National Credit Union Administration Board
flexibility to increase Federal credit union loan matu-
rities, and for other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Expanding Access to
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Lending Options Act’’.
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SEC. 2. POWERS OF FEDERAL CREDIT UNIONS.
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Section 107(5) of the Federal Credit Union Act (12
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U.S.C. 1757(5)) is amended—
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•S 3389 IS
(1) in the matter preceding subparagraph (A),
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by inserting ‘‘or up to a term of 20 years as the
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Board may allow, in regulations’’ after ‘‘15 years’’;
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and
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(2) in subparagraph (A)(i), by striking ‘‘or will
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be the principal residence of a credit union member,
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and which is’’.
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