H.R. 975 House Finance and Financial Sector
Credit Union Board Modernization Act
STAGE 4 OF 8 — HOUSE FLOOR
Currently in the House. Last action: received in the senate and read twice and referred to the committee on banking, housing, and urban affairs on Feb 11, 2025.
- House Introduced in House Feb 4, 2025
- House Referred to the House Committee on Financial Services. Feb 4, 2025
- House Mr. Hill (AR) moved to suspend the rules and pass the bill. Feb 10, 2025
- House Considered under suspension of the rules. (consideration: CR H601-603) Feb 10, 2025
- House DEBATE - The House proceeded with forty minutes of debate on H.R. 975. Feb 10, 2025
- House Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602) Feb 10, 2025
- House On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602) Feb 10, 2025
- House Motion to reconsider laid on the table Agreed to without objection. Feb 10, 2025
- Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Feb 11, 2025
Cosponsors
22
Subjects
Administrative remediesBanking and financial institutions regulationCorporate finance and managementNational Credit Union Administration
Committees
- Banking, Housing, and Urban Affairs Committee
- [Referred To, Feb 11, 2025]
- Financial Services Committee
- [Referred To, Feb 4, 2025]
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 as of: Introduced in House]
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