Credit Union Board Modernization Act
119-HR-975119th CongressIntroduced Feb 4, 2025Finance 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)22 cosponsors
Summary
Credit Union Board Modernization Act
This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.