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Credit Union Modernization Act of 2019

2/8/2022, 11:16 PM

Congressional Summary of S 3326

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.

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Current Status of Bill S 3326

Bill S 3326 is currently in the status of Bill Introduced since February 24, 2020. Bill S 3326 was introduced during Congress 116 and was introduced to the Senate on February 24, 2020.  Bill S 3326's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 24, 2020

Bipartisan Support of Bill S 3326

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

Policy Area and Potential Impact of Bill S 3326

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Banking and financial institutions regulation
- Credit and credit markets

Alternate Title(s) of Bill S 3326

Credit Union Modernization Act of 2019
Credit Union Modernization Act of 2019
A bill to amend the Federal Credit Union Act to remove outdated responsibilities of boards of directors of Federal credit unions.

Comments

Sponsors and Cosponsors of S 3326

Thom Tillis
Thom Tillis
North CarolinaRepublican
Richard Burr
Richard Burr
North CarolinaRepublican

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