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Credit Union Board Modernization Act
A bill to amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.
- Introduced
- Committee
- Passed Senate
- Passed House
- To President
- Became law
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.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Feb 11, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 11, 2025 Introduced in Senate
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