Credit Union Board Modernization Act
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Topic: Finance and Financial Sector
Sponsor: Rep. Vargas, Juan [D-CA-52] (D) - CA
Summary
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.
Legislative Subjects
Administrative remedies; Banking and financial institutions regulation; Corporate finance and management; Finance and Financial Sector; National Credit Union Administration
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-02-11
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