S 522 ยท Credit Union Board Modernization Act
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced
- Feb 11, 2025
- Latest action
- Feb 11, 2025
- Sponsor
- Sen. Bill Hagerty [R-TN]
- Policy area
- Finance and Financial Sector
- Cosponsors
- 63
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.
Recent actions
- Feb 11, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 11, 2025 Introduced in Senate
Votes
No recorded votes are available for this bill.