Politiparty
Politiparty

119th Congress Finance and Financial Sector

S. 522: Credit Union Board Modernization Act

Introduced

  1. Introduced (completed)Feb 11, 2025
  2. Passed Senate (not reached)
  3. Passed House (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in Senate, Feb 11, 2025

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

63

Bipartisan support.

Who scored on this bill

18 points earned
  1. 1Bill Hagerty R-TN SponsorDrew cross-party cosponsors, introduced, reached a cosponsor milestone4 events+18
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Bill Hagerty

History

  1. Feb 11, 2025Introduced in the Senate by Bill Hagerty.
Show the full action history (2 actions)
  1. Feb 11, 2025Introduced in Senate
  2. Feb 11, 2025Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.