H.R. 582 · 118th Congress
Credit Union Board Modernization Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 118th Congress ended.
60 cosponsors · 27 D, 33 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Jan 26, 2023
- House Passed Jan 30, 2023
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.
What it does: CRS summary · Passed House · Jan 30, 2023
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.
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 (Jan 31, 2023): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jan 26, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Jan 26, 2023
- House Passed Jan 30, 2023
No recorded floor vote found.