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Credit Union Board Modernization Act
2/16/2024, 3:28 PM
Congressional Summary of HR 582
Credit Union Board Modernization Act
This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. 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.
Read the Full Bill
Current Status of Bill HR 582
Bill HR 582 is currently in the status of Bill Introduced since January 26, 2023. Bill HR 582 was introduced during Congress 118 and was introduced to the House on January 26, 2023. Bill HR 582's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of January 31, 2023
Bipartisan Support of Bill HR 582
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
60Democrat Cosponsors
27Republican Cosponsors
33Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 582
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Administrative remedies
- Banking and financial institutions regulation
- Corporate finance and management
- National Credit Union Administration
Alternate Title(s) of Bill HR 582
Credit Union Board Modernization Act
Credit Union Board Modernization Act
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.
Comments
Sponsors and Cosponsors of HR 582
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