Credit Union Board Modernization Act

Hozzl · 2024-03-06T11:08:33Z

Explore the details of Senate Bill 610 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.

3/6/2024, 11:08 AM

Congressional Summary of S 610

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.

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Current Status of Bill S 610

Bill S 610 is currently in the status of Bill Introduced since March 1, 2023. Bill S 610 was introduced during Congress 118 and was introduced to the Senate on March 1, 2023. Bill S 610's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 1, 2023

Bipartisan Support of Bill S 610

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 610

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 610

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

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