A bill to expand and facilitate urban lending investment by Federal savings and loan associations, and to simplify section 5(c) of the Home Owners' Loan Act of 1933.

[AI summary unavailable — showing source text] Amends the Home Owners' Loan Act of 1933 to authorize Federal savings and loan associations to invest in cooperative housing. Removes the limitation on the percentage of its assets which a savings and loan association may invest in the following: (1) commercial real estate loans; (2) loans for home improvement and mobile homes; and (3) State and local government bonds to raise revenue for the rehabilitation, financing, or construction of residential real estate.…