HR 5981
Credit Union Board Modernization Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Credit Union Board Modernization Act, changes the requirements for how often credit union boards of directors must meet. It lowers the minimum meeting frequency from monthly to at least six times per year, ensuring at least one meeting occurs in each of the four fiscal quarters. This change aims to provide more flexibility for credit unions while still maintaining adequate board oversight. The bill updates the Federal Credit Union Act to reflect these new meeting frequency guidelines.
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Primary sponsor
Katie Porter
Cosponsor
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