S. 4325
Referred to CommitteeCredit Union Board Modernization Act
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
5/26/2022 • Senate
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.
Introduced in Senate • 5/26/2022
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Sponsor & Cosponsors (21)
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Sponsor
Cosponsors (20)
Bill Journey
Originated in the Senate
Introduced
May 26, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law