S. 1767 · 117th Congress
Credit Union Employee and Member Safety Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SmithSponsor7 cosponsors · 3 D, 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.
What it does: CRS summary · Introduced in Senate · May 20, 2021
Credit Union Employee and Member Safety Act of 2021
This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.
The member may request a hearing from the board of directors. After the hearing, the board shall hold a vote on expelling the member.
The expelled member may request reinstatement through a two-thirds vote of the members present at a meeting.
Member conduct that may be cause for expulsion includes
- a material loss to the credit union,
- a violation of the credit union membership agreement,
- a substantial disruption to the operations of a credit union,
- fraud or attempted fraud, and
- other illegal or inappropriate behavior.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Union Employee and Member Safety Act of 2021
Latest action (May 20, 2021): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 20, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.