S. 522 · 119th Congress
Credit Union Board Modernization Act
In committee
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Bill details
Introduced: 2/11/2025
Current status: In committee
Introduced by: Bill Hagerty (R · TN)
Bill ID: 119s522
Latest official action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill overview
A neutral overview based on official congressional sources.
Introduced in Senate
Credit Union Board Modernization Act 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.
Source: BILLSUM · Summary date: 2/11/2025
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