Credit Union Board Modernization Act
The summary
What this bill does
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.
Legislative timeline
From introduction
Feb 11, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - TN · R-TN
63 cosponsors
U.S. Representative - DE · D-DE
U.S. Representative - AL · R-AL
U.S. Representative - UT · R-UT
U.S. Representative - ND · R-ND
U.S. Representative - ND · R-ND
U.S. Representative - NC · R-NC
U.S. Representative - ME · I-ME
Member of Congress · D-MN
U.S. Representative - NV · D-NV
U.S. Representative - ME · R-ME
U.S. Representative - NE · R-NE
Member of Congress · D-VA
+ 51 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 119 |
| Bill Type | S |
| Bill Number | 522 |
| Origin Chamber | Senate |
| Current Status | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | February 11, 2025 |
| Latest Action | February 11, 2025 |
| Cosponsors | 63 · House vote — · 1 views |