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Main Subject: Finance and financial sector

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.

Senate Actions

IntroReferral
May. 26 2022	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Library of Congress Actions

IntroReferral
May. 26 2022	Introduced in Senate

Senate bill S4325-117

A bill to amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.

Senate bill S4325-117

A bill to amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.

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