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HR 7963 116th Congress House Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Business records Fraud offenses and financial crimes

Credit Union Governance Modernization Act of 2020

Introduced: August 7, 2020 Introduced by: Emmer, Tom Republican · Minnesota See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 7, 2020
Referred to the House Committee on Financial Services.
Aug 7, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

Credit Union Governance Modernization Act of 2020

This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.

The expelled member may request reinstatement by the credit union board.

Member conduct that may be cause for expulsion includes

  • a loss to the credit union,
  • a violation of the credit union membership agreement,
  • a disruption to the operations of a credit union,
  • fraud or attempted fraud, and
  • other illegal or inappropriate behavior.
What's happening now August 7, 2020

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • S 3323 Identical bill Credit Union Governance Modernization Act of 2020
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1
D
Slotkin, Elissa
Michigan · Dec 14, 2020
Perlmutter, Ed
· Aug 7, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7963: Credit Union Governance Modernization Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7963/
MLA
"H.R. 7963: Credit Union Governance Modernization Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7963/.
Bluebook (legal)
H.R. 7963, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7963/.
Markdown link
[H.R. 7963: Credit Union Governance Modernization Act of 2020](https://openamerica.io/bill/116-HR-7963/)
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