S 4325
117th Congress
Senate
Finance and Financial Sector
Administrative remedies
Banking and financial institutions regulation
Corporate finance and management
National Credit Union Administration
Credit Union Board Modernization Act
Introduced: May 26, 2022
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 26, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 26, 2022
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1