S 522
Credit Union Board Modernization Act
Summary
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. Bill Hagerty [R-TN]
- Cosponsors
- 63
- Policy area
- Finance and Financial Sector
- Introduced
- 2025-02-11
- Latest action
- 2025-02-11: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee referrals
Recent actions
- 2025-02-11: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-02-11: Introduced in Senate