Credit Union Modernization Act of 2019

2/8/2022, 11:16 PM

Credit Union Modernization Act of 2019

This bill revises the duties of boards of directors of federal credit unions, including by removing requirements for (1) the disclosure to the National Credit Union Administration of certain loan officer information, and (2) the direct management of credit union membership by a board of directors.

Congress
116

Number
S - 3326

Introduced on
2020-02-24

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/24/2020

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Credit Union Modernization Act of 2019

This bill revises the duties of boards of directors of federal credit unions, including by removing requirements for (1) the disclosure to the National Credit Union Administration of certain loan officer information, and (2) the direct management of credit union membership by a board of directors.

Alternative Names
Official Title as IntroducedA bill to amend the Federal Credit Union Act to remove outdated responsibilities of boards of directors of Federal credit unions.

Policy Areas
Finance and Financial Sector

Potential Impact
Banking and financial institutions regulation
Credit and credit markets

Comments

Recent Activity

Latest Summary5/8/2020

Credit Union Modernization Act of 2019

This bill revises the duties of boards of directors of federal credit unions, including by removing requirements for (1) the disclosure to the National Credit Union Administration of certain lo...


Latest Action2/24/2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.