Credit Union Board Modernization Act
Latest action · Feb 11, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 4, 2025
- Passed HouseFeb 10, 2025
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 22
Members who signed on, in the order they did. Signatures ran from Feb 4, 2025 to Feb 10, 2025; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MI | Bill Huizenga | Original | Feb 4, 2025 |
| D-IL | Bill Foster | Feb 7, 2025 | |
| R-MN | Brad Finstad | Feb 7, 2025 | |
| D-CA | Brad Sherman | Feb 7, 2025 | |
| R-PA | Daniel Meuser | Feb 7, 2025 | |
| R-CA | Darrell Issa | Feb 7, 2025 | |
| D-NV | Dina Titus | Feb 7, 2025 | |
| D-NY | Gregory W. Meeks | Feb 7, 2025 | |
| R-VA | H. Morgan Griffith | Feb 7, 2025 | |
| D-MI | Hillary J. Scholten | Feb 7, 2025 | |
| D-CA | Judy Chu | Feb 7, 2025 | |
| R-ID | Russ Fulcher | Feb 7, 2025 | |
| D-CA | Salud O. Carbajal | Feb 7, 2025 | |
| D-IL | Sean Casten | Feb 7, 2025 | |
| R-OH | Warren Davidson | Feb 7, 2025 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Feb 4, 2025 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Feb 11, 2025 |
Actions 8
Everything that happened, newest first.
- Feb 11, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Feb 10, 2025Mr. Hill (AR) moved to suspend the rules and pass the bill.
- Feb 10, 2025Considered under suspension of the rules. (consideration: CR H601-603)
- Feb 10, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
- 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, 2025Motion to reconsider laid on the table Agreed to without objection.
- Feb 4, 2025Introduced in House
- Feb 4, 2025Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H601–H603Text printed H601 | J. French Hill R-AR, Juan Vargas D-CA, Young Kim R-CA | Feb 10, 2025 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 23, February 4, 2025, page H461.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R48849 | Housing for the 21st Century Act | Report | Oct 20, 2026 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 185 | Responsible Legislating Act | Related bill | Mar 14, 2025 |
| S 522 | Credit Union Board Modernization Act | Related bill | Feb 11, 2025 |
| HR 6644 | 21st Century ROAD to Housing Act | Related bill | Jul 11, 2026 |
| HR 6955 | Main Street Capital Access Act | Related bill | Jul 22, 2026 |
Titles 5
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.
- Short Title(s) as Introduced
- Credit Union Board Modernization Act
- Short Title(s) as Passed House
- Credit Union Board Modernization Act
- Short Titles from RFS (Referred to Senate) bill text
- Credit Union Board Modernization Act
- Official Title from EH (Engrossed in House) bill text
- To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 3
Each version as it was printed, newest first.
- Feb 11, 2025Referred in Senate
- Feb 10, 2025Engrossed in House
- Feb 4, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
