Congress·In Committee·S. 3616

Expanding Access to Lending Options Act

Credit Unions: Longer Loan Terms for Borrowers

Jan 13·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

Next up: A senate committee

This bill was introduced in the Senate and is currently being reviewed by the Committee on Banking, Housing, and Urban Affairs. It is in the early stages of the lawmaking process and has no upcoming votes scheduled at this time. The bill is considered active as it waits for the committee to decide if it should move forward.

Legislative Progress

Senate

House

President

Law

Could go either way

This bill has support from both Democrats and Republicans, which usually helps a bill move forward. However, many financial bills like this face a long wait in committee before they ever get a full vote.

How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from H.R. 6933 (118th), which died when its Congress ended.
H.R. 6933 (118th) →

Key Points

This bill would let federal credit unions offer loans that last up to 20 years. Right now, most of these loans are limited to a maximum of 15 years.
By making the loan terms longer, monthly payments could become smaller and more affordable for people borrowing money. This helps families who need more time to pay back what they owe for things like home repairs or tuition.
The change would give the National Credit Union Administration the power to set new rules for these longer loans. This gives the agency more flexibility to help credit unions meet the needs of their members.
The proposal also removes a rule that required certain loans to be used only for a person's main home. This could make it easier for people to get financing for other types of property or needs.

Impact Analysis

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

Milestones

2 milestones2 actions

Jan 13, 2026Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

Jan 13, 2026

Introduced in Senate

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

No votes, news coverage, or related bills recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Expanding Access to Lending Options Act

Bill NumberS 3616

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(3)

R: 3

Analysis generated by AI. Always verify with official sources.