S. 4325 · 117th Congress
Credit Union Board Modernization Act
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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.
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SinemaSponsor20 cosponsors · 8 D, 12 R
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Hagerty
AP
D
Padilla
TT
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Tillis
CL
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Lummis
JT
D
Tester
JB
R
Boozman
JB
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Barrasso
CG
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Grassley
TK
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Kaine
RW
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Wicker
DF
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Feinstein
AK
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Klobuchar
RM
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Marshall
KC
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Cramer
CC
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Cortez Masto
TS
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Smith
TT
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Tuberville
DS
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Sullivan
LM
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Murkowski
JR
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Rosen3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating.
What it does: CRS summary · Introduced in Senate · May 26, 2022
Credit Union Board Modernization Act
This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Union Board Modernization Act
Latest action (May 26, 2022): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 26, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.