H.R. 582 · 118th Congress · Finance and Financial Sector
Credit Union Board Modernization Act
What it does
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.
Summary by the Congressional Research Service, Jan 30, 2023 (Passed House). CRS summarizes bills impartially; it does not take positions.
Roll call votes
No recorded roll call votes on this bill. Most bills never get one; many pass by voice vote or unanimous consent, or stay in committee.
Latest action
Jan 31, 2023 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.