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119th Congress · House bill · Last action Feb 11, 2025
Bills›Finance and Financial Sector›H.R. 975Congress.gov ↗
H.R. 975Passed HouseFinance and Financial Sector

Democrats pass bill modernizing credit union board requirements

Sponsor: Rep. Vargas, Juan (D-CA)22 cosponsorsIntroduced Feb 4, 2025
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In plain English

Credit unions would be required to hold at least six board meetings per year instead of monthly meetings, except for newly created credit unions and those with poor financial ratings, which must continue meeting monthly. Rep. Juan Vargas (D-CA) introduced the bill, which has bipartisan support with 22 cosponsors. The Senate referred it to the Banking Committee in February 2025.

Generated by ThePolitibase from the bill text and CRS summary. Read the official text →

Where it is in the process

✓
Introduced
Feb 4
✓
House committee
Feb 11
✓
House floor
Feb 10
4
Senate
-
5
Signed
-
What happens next: Cleared the House. Now goes to the Senate for consideration.

Sponsor

Cosponsors (22)

BR
SR
HR
WR
DR
BR
YR
+15
11 Democrats, 11 Republicans (of 22 shown).

Activity timeline

Feb 11
Feb 11, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 10
Feb 10, 2025
Motion to reconsider laid on the table Agreed to without objection.
Feb 10
Feb 10, 2025
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Feb 10
Feb 10, 2025
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Feb 10
Feb 10, 2025
DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
Feb 10
Feb 10, 2025
Considered under suspension of the rules. (consideration: CR H601-603)
Feb 10
Feb 10, 2025
Mr. Hill (AR) moved to suspend the rules and pass the bill.
Feb 4
Feb 4, 2025
Referred to the House Committee on Financial Services.
Feb 4
Feb 4, 2025
Introduced in House
Feb 4
Feb 4, 2025
Introduced in House
Read the bill text
Official text via Congress.gov. Opens in a new tab.
Read full text →

Full action log

All 10 recorded actions since introduction · Source: Congress.gov
Feb 11
SENATEReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 10
HOUSEMotion to reconsider laid on the table Agreed to without objection.
Feb 10
HOUSEOn motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Feb 10
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Feb 10
HOUSEDEBATE - The House proceeded with forty minutes of debate on H.R. 975.
Feb 10
HOUSEConsidered under suspension of the rules. (consideration: CR H601-603)
Feb 10
HOUSEMr. Hill (AR) moved to suspend the rules and pass the bill.
Feb 4
HOUSEReferred to the House Committee on Financial Services.
Feb 4
Introduced in House
Feb 4
Introduced in House

All 22 cosponsors

11 Democrats · 11 Republicans
Democrats (11)
Republicans (11)

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