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Credit Union Board Modernization Act
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.
Read the Full Bill
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
1Democrat Sponsors
0Republican Sponsors
0Unaffiliated Sponsors
1Total Number of Cosponsors
33Democrat Cosponsors
7Republican Cosponsors
25Unaffiliated Cosponsors
1Policy Area and Potential Impact of Bill S 610
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill S 610
Credit Union Board Modernization Act
Credit Union Board Modernization Act
A 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.
Comments
Sponsors and Cosponsors of S 610
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