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H.R. 582 · 118th Congress

Credit Union Board Modernization Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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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.

  1. House Introduced Jan 26, 2023
  2. 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)

  1. House Introduced Jan 26, 2023
  2. House Passed Jan 30, 2023

No recorded floor vote found.