Credit Union Board Modernization Act

Sponsored byRep. Vargas, Juan [D-CA-52]CA· Introduced 4 February 2025

Open on Congress.gov

Cosponsors

Actions

Amendments

Committees

—

Since introduced

Introduced

Committee

Passed Chamber

Passed Both

Enacted

Step 1 of 0

Latest action

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

11 February 2025·1 year ago

Summary

Introduced in House · Updated 10 February 2025

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.

Timeline

10 actions

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
11 February 2025 · IntroReferral
DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
10 February 2025 · Floor
Considered under suspension of the rules. (consideration: CR H601-603)
10 February 2025 · Floor
Mr. Hill (AR) moved to suspend the rules and pass the bill.
10 February 2025 · Floor
Motion to reconsider laid on the table Agreed to without objection.
10 February 2025 · Floor
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
10 February 2025 · Floor
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
10 February 2025 · Floor
Referred to the House Committee on Financial Services.
4 February 2025 · IntroReferral
Introduced in House
4 February 2025 · IntroReferral
Introduced in House
4 February 2025 · IntroReferral

Sponsorship

22 cosponsors

Sponsor

Rep. Vargas, Juan [D-CA-52]CA

Cosponsors

Democrat1150%
Republican1150%

Republican:Rep. Timmons, William R. [R-SC-4]SC
Democrat:Rep. Williams, Nikema [D-GA-5]GA
Republican:Rep. Lucas, Frank D. [R-OK-3]OK
Democrat:Rep. Peters, Scott H. [D-CA-50]CA
Republican:Rep. Nunn, Zachary [R-IA-3]IA
Democrat:Rep. Costa, Jim [D-CA-21]CA
Republican:Rep. Finstad, Brad [R-MN-1]MN
Democrat:Rep. Chu, Judy [D-CA-28]CA
Republican:Rep. Fulcher, Russ [R-ID-1]ID
Republican:Rep. Kim, Young [R-CA-40]CA
Democrat:Rep. Carbajal, Salud O. [D-CA-24]CA
Democrat:Rep. Meeks, Gregory W. [D-NY-5]NY
Democrat:Rep. Foster, Bill [D-IL-11]IL
Republican:Rep. Issa, Darrell [R-CA-48]CA
Democrat:Rep. Casten, Sean [D-IL-6]IL
Democrat:Rep. Sherman, Brad [D-CA-32]CA
Republican:Rep. Davidson, Warren [R-OH-8]OH
Republican:Rep. Meuser, Daniel [R-PA-9]PA
Democrat:Rep. Titus, Dina [D-NV-1]NV
Republican:Rep. Griffith, H. Morgan [R-VA-9]VA
Democrat:Rep. Scholten, Hillary J. [D-MI-3]MI
Republican:Rep. Huizenga, Bill [R-MI-4]MI

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Administrative remediesBanking and financial institutions regulationCorporate finance and managementNational Credit Union Administration

Committees

Financial Services Committee
House · Standing
- Referred To4 Feb 2025
Banking, Housing, and Urban Affairs Committee
Senate · Standing
- Referred To11 Feb 2025

Cosponsor momentum

Cumulative over time

Track Credit Union Board Modernization Act as it moves through Congress