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Credit Union Board Modernization Act

2/8/2022, 11:17 PM

Congressional Summary of HR 5981

Credit Union Board Modernization Act

This bill reduces the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, boards must meet at least once a month.

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Current Status of Bill HR 5981

Bill HR 5981 is currently in the status of Bill Introduced since February 26, 2020. Bill HR 5981 was introduced during Congress 116 and was introduced to the House on February 26, 2020.  Bill HR 5981's most recent activity was Referred to the House Committee on Financial Services. as of February 26, 2020

Bipartisan Support of Bill HR 5981

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5981

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative remedies
- National Credit Union Administration

Alternate Title(s) of Bill HR 5981

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

Comments

Sponsors and Cosponsors of HR 5981

Katie Porter
Katie Porter
CaliforniaDemocrat
Mark E. Amodei
Mark E. Amodei
NevadaRepublican

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