H.R. 6889: Credit Union Board Modernization Act

CBO Score


Date of Report

Mon September 26th, 2022

Legislation Details

117th Congress

To mend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.

Sponsor: Rep. Juan Vargas — D — CA

Revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.

View the full vote history of this bill on GovTrack.us.

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