S 522 United States Senate · 119th Congress

Credit Union Board Modernization Act

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

President

Introduced Feb 11, 2025 Last action Feb 11, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

2

Key actions

0

Committee

1

Feb 11, 2025

Committee

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

upper

Feb 11, 2025

Introduced

Introduced in Senate

upper

1 primary · 63 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Angela D. Alsobrooks

Angus S. King, Jr.