S 522
119th Congress
Senate
Finance and Financial Sector
Credit Union Board Modernization Act
Introduced: February 11, 2025
Introduced by:
Hagerty, Bill
Republican
· Tennessee
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 11, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 11, 2025
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.