H.R. 975Passed HouseFINANCE AND FINANCIAL SECTOR
Credit Union Board Modernization Act
Administrative remedies · Banking and financial institutions regulation · Corporate finance and management
Key facts
Introduced: Feb 4, 2025
Chamber: House
Cosponsors: 22
Congress: 119th
Latest action · Feb 11, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summary
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.
Summary by Congressional Research Service.
Timeline
- Feb 11, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 10, 2025Motion to reconsider laid on the table Agreed to without objection.
- Feb 10, 2025On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
- Feb 10, 2025Passed/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, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
- Feb 10, 2025Considered under suspension of the rules. (consideration: CR H601-603)
- Feb 10, 2025Mr. Hill (AR) moved to suspend the rules and pass the bill.
- Feb 4, 2025Referred to the House Committee on Financial Services.
- Feb 4, 2025Introduced in House
- Feb 4, 2025Introduced in House
Cosponsors
- Rep. Huizenga, Bill [R-MI-4] R-MI
- Rep. Casten, Sean [D-IL-6] D-IL
- Rep. Scholten, Hillary J. [D-MI-3] D-MI
- Rep. Davidson, Warren [R-OH-8] R-OH
- Rep. Meuser, Daniel [R-PA-9] R-PA
- Rep. Foster, Bill [D-IL-11] D-IL
- Rep. Kim, Young [R-CA-40] R-CA
- Rep. Issa, Darrell [R-CA-48] R-CA
- Rep. Fulcher, Russ [R-ID-1] R-ID
- Rep. Carbajal, Salud O. [D-CA-24] D-CA
- Rep. Meeks, Gregory W. [D-NY-5] D-NY
- Rep. Griffith, H. Morgan [R-VA-9] R-VA
- Rep. Finstad, Brad [R-MN-1] R-MN
- Rep. Titus, Dina [D-NV-1] D-NV
- Rep. Chu, Judy [D-CA-28] D-CA
- Rep. Sherman, Brad [D-CA-32] D-CA
- Rep. Costa, Jim [D-CA-21] D-CA
- Rep. Williams, Nikema [D-GA-5] D-GA
- Rep. Nunn, Zachary [R-IA-3] R-IA
- Rep. Timmons, William R. [R-SC-4] R-SC
- Rep. Peters, Scott H. [D-CA-50] D-CA
- Rep. Lucas, Frank D. [R-OK-3] R-OK
In the News
- Congress Must Finish The Job On Housing—And Include Credit Union Solutions - CU Today
- Press Release: Rep. Juan Vargas Releases Statement on War Powers Resolution and Iran - Quiver Quantitative
- Ranking Member Maxine Waters Applauds Passage of Landmark Bipartisan Housing Bill “Housing for the 21st Century Act,” Including Key Democratic Wins - House Financial Services Committee Democrats (.gov)
- Press Release: Rep. Juan Vargas and San Diego Delegation Demand DHS Answers on Oversight Visit Blocked at Federal Courthouse - Quiver Quantitative
- Two proposals from Congressman Vern Buchanan pass Congress - ABC7 WWSB
View official record on Congress.gov →