LEGISLATION/H.R. 6889

Credit Union Board Modernization Act

117-HR-6889117th CongressIntroduced Mar 1, 2022Finance and Financial Sector

Market Probability

No market

Status

Introduced

Committee

Floor Vote

Other Chamber

Signed

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

Sponsor

Rep. Vargas, Juan [D-CA-51](D-CA-51)

109 cosponsors

Summary

Credit Union Board Modernization Act

This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.

Subjects

Administrative remediesBanking and financial institutions regulationCorporate finance and managementNational Credit Union Administration

Actions (17)

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

Oct 11, 2022Senate

Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.

Sep 29, 2022House floor actions

Passed/agreed to in House: Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.

Sep 29, 2022Library of Congress

Pursuant to the provisions of H. Res. 1396, proceedings on H.R. 6889 are considered vacated.

Sep 29, 2022House floor actions

The title of the measure was amended. Agreed to without objection.

Sep 29, 2022House floor actions

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.