Congress·In Committee·H.R. 4167

Expanding Access to Lending Options Act

Credit Unions: Longer Loan Payment Terms

about 1 year ago·View on Congress.gov·Read full text

This bill is currently in the early stages of the legislative process after being sent to the House Committee on Financial Services for review. It is considered active, but no further hearings or votes have been scheduled at this time. There is no companion bill currently associated with this legislation.

Legislative Progress

House

Senate

President

Law

Could go either way

This bill has strong bipartisan support from both Republicans and Democrats. It is a straightforward update to banking rules that helps local credit unions compete with larger banks.

Key Points

This bill changes the rules for federal credit unions to let them offer longer loans. Currently, most loans they give out must be paid back within 15 years. This plan would raise that limit to 20 years or even longer if government regulators agree.
People who use credit unions for things like home renovations, student loans, or business equipment would be the most affected. Longer loan terms usually mean smaller monthly payments, which can make it easier for families to afford large expenses.
The bill also removes a rule that limited longer loan terms mostly to primary homes. This means credit union members could potentially get more flexible repayment options for other types of property or large personal needs.
Lawmakers say this will help credit unions compete with big banks while still keeping the banking system safe. The National Credit Union Administration would still oversee these loans to make sure they are handled responsibly.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

Jun 26, 2025House

Referred to the House Committee on Financial Services.

Jun 26, 2025

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

Votes

No votes have been recorded for this legislation yet.

News

No related news coverage found for this legislation yet.

Source Information

Document Type

Congressional Bill

Official Title

Expanding Access to Lending Options Act

Bill NumberHR 4167

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Financial Services.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(41)

D: 22R: 19

Analysis generated by AI. Always verify with official sources.