For a given radioactive substance, \lambda is constant, so its half-life is also constant.
The assertion that the second half of a radioactive substance's mass should need no longer than its half-life to fully expire its radioactivity is clearly not applicable here. As explained, the second half of the radioactive mass will be lost at an ever reducing rate and thus take much longer. For example a half of the remaining half of the mass (= 1/4 of the initial mass) will expire in another half-life. After that, half of the remaining mass (= 1/8 of the initial mass) will decay over the next half-life period and so on. In fact, to be exact about it, the entire remaining mass will take forever to lose full radioactivity as its decay rate slows down to near nothing towards the end.