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H.R. 975 · 119th Congress

Credit Union Board Modernization Act

Introduced Feb 4, 2025Policy area: Finance and Financial Sector

Read the textOn Congress.gov

Status: Passed House

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Law

Latest action

: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

Credit Union Board Modernization Act

This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.

Summary by the Congressional Research Service.

Actions

  1. Senate

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  2. House

    Motion to reconsider laid on the table Agreed to without objection.

  3. House

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)

  4. House

    DEBATE - The House proceeded with forty minutes of debate on H.R. 975.

  5. House

    Considered under suspension of the rules. (consideration: CR H601-603)

  6. House

    Mr. Hill (AR) moved to suspend the rules and pass the bill.

  7. House

    Referred to the House Committee on Financial Services.

  8. Introduced in House