To mend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.
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.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-517.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-517.
Placed on the Union Calendar, Calendar No. 386.
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H8157-8158; text: CR H8157-8158)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6889.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
The title of the measure was amended. Agreed to without objection.
Pursuant to the provisions of H. Res. 1396, proceedings on H.R. 6889 are considered vacated.
Passed/agreed to in House: Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.
Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.