S522Referred to Committee

Credit Union Board Modernization Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-11
Introduced
63
Cosponsors
S
ⓘ
Type

Sponsor

Bill Hagerty
Bill Hagerty
Republican · TN · Senator
Votes with party: 33.1% (314 recorded votes)

Full profile: /officials/H000601

Source: Congress.gov · FEC

Cosponsors (63)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

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

2025-02-11

Source: Congress.gov

Committee Activity

Previously

Plain-English Summary

Credit Union Board Modernization Act This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
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