S. 610 · 118th Congress
Credit Union Board Modernization Act
- Stage
- In committee
- Sponsor
- Kyrsten Sinema
- Introduced
- 2023-03-01
- Latest action
- 2023-03-01 · Introduced in Senate
Summary
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.