To amend 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 reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Referred to the Subcommittee on Livestock, Dairy, and Poultry.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Hill (AR) moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H601-603)
DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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