Credit Union Board Modernization Act
118-HR-582118th CongressIntroduced Jan 26, 2023Finance 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-52](D-CA-52)60 cosponsors
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.
Subjects
Administrative remediesBanking and financial institutions regulationCorporate finance and managementNational Credit Union Administration
Actions (10)
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 31, 2023Senate
Motion to reconsider laid on the table Agreed to without objection.
Jan 30, 2023House floor actions
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H501)
Jan 30, 2023House floor actions
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H501)
Jan 30, 2023Library of Congress
DEBATE - The House proceeded with forty minutes of debate on H.R. 582.
Jan 30, 2023House floor actions
Considered under suspension of the rules. (consideration: CR H501-502)
Jan 30, 2023House floor actions
Mr. McHenry moved to suspend the rules and pass the bill.
Jan 30, 2023House floor actions
Referred to the House Committee on Financial Services.
Jan 26, 2023House floor actions
Introduced in House
Jan 26, 2023Library of Congress
Introduced in House
Jan 26, 2023Library of Congress