summary
Introduced
05/26/2022
05/26/2022
In Committee
05/26/2022
05/26/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Federal Credit Union Act to modify the fre- quency of board of directors meetings, and for other purposes.
AI Summary
This bill, the Credit Union Board Modernization Act, amends the Federal Credit Union Act to modify the frequency of board of directors meetings. Specifically, it requires the board to meet at least 6 times annually, with at least 1 meeting per fiscal quarter, except for newly chartered credit unions and those with a low financial rating, which must meet monthly. This change provides more flexibility for credit union boards while ensuring appropriate oversight, particularly for less stable institutions.
Committee Categories
Housing and Urban Affairs
Sponsors (21)
Kyrsten Sinema (I)*,
John Barrasso (R),
John Boozman (R),
Catherine Cortez Masto (D),
Kevin Cramer (R),
Dianne Feinstein (D),
Chuck Grassley (R),
Bill Hagerty (R),
Tim Kaine (D),
Amy Klobuchar (D),
Cynthia Lummis (R),
Roger Marshall (R),
Lisa Murkowski (R),
Alex Padilla (D),
Jacky Rosen (D),
Tina Smith (D),
Dan Sullivan (R),
Jon Tester (D),
Thom Tillis (R),
Tommy Tuberville (R),
Roger Wicker (R),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 05/26/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/4325/all-info |
| BillText | https://www.congress.gov/117/bills/s4325/BILLS-117s4325is.pdf |
| Bill | https://www.congress.gov/117/bills/s4325/BILLS-117s4325is.pdf.pdf |
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