Credit Union Board Modernization Act

Senate Bill 4325 - Credit Union Board Modernization Act: Overview, Status, and Impact

Hozzl · 2023-03-08T20:12:14Z

Explore the details of Senate Bill 4325 Credit Union Board Modernization Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/8/2023, 8:12 PM

Congressional Summary of S 4325

Credit Union Board Modernization Act

This bill 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.

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Current Status of Bill S 4325

Bill S 4325 is currently in the status of Bill Introduced since May 26, 2022. Bill S 4325 was introduced during Congress 117 and was introduced to the Senate on May 26, 2022. Bill S 4325's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of May 26, 2022