summary
Introduced
02/26/2020
02/26/2020
In Committee
02/26/2020
02/26/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes. This bill reduces the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, boards must meet at least once a month.
AI Summary
This bill, the Credit Union Board Modernization Act, amends the Federal Credit Union Act to reduce the frequency of meetings required for a credit union's board of directors. Specifically, the bill requires the board to meet at least six times annually, with at least one meeting held during each fiscal quarter, rather than the current requirement of at least one meeting per month.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred to the House Committee on Financial Services. (on 02/26/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/5981/all-info | 02/27/2020 |
| BillText | https://www.congress.gov/116/bills/hr5981/BILLS-116hr5981ih.pdf | 02/27/2020 |
| Bill | https://www.congress.gov/116/bills/hr5981/BILLS-116hr5981ih.pdf.pdf | 02/27/2020 |
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