Expanding Access to Lending Options Act allows the National Credit Union Administration Board to extend federal credit union loan maturities.
The Expanding Access to Lending Options Act amends the Federal Credit Union Act to give the National Credit Union Administration Board flexibility in setting loan maturities for federal credit unions. Specifically, it changes the maximum loan maturity from 15 years to 20 years, or longer if the Board allows by regulation. This change aims to provide more options for borrowers and potentially improve the financial stability of credit unions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.