H.R. 2311: Credit Union Governance Modernization Act of 2021
Legislation Details
117th Congress
To amend the Federal Credit Union Act to modernize certain processes regarding expulsion of credit union members for cause, and for other purposes.
Sponsor: Rep. Tom Emmer — R — MN
Revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting. The member may request a hearing from the board of directors. After the hearing, the board shall hol...
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