HR 975
Credit Union Board Modernization Act
Summary
Credit Union Board Modernization Act This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.
Bill status
- Status
- In committee
- Sponsor
- Rep. Juan Vargas [D-CA-52]
- Cosponsors
- 22
- Policy area
- Finance and Financial Sector
- Introduced
- 2025-02-04
- Latest action
- 2025-02-11: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee referrals
Recent actions
- 2025-02-11: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-02-10: Motion to reconsider laid on the table Agreed to without objection.
- 2025-02-10: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
- 2025-02-10: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
- 2025-02-10: DEBATE - The House proceeded with forty minutes of debate on H.R. 975.