CONGRESS FOR VOTERS

Juan Vargas (D-CA)

Credit Union Board Modernization Act

H.R. 975 · House bill Finance and Financial Sector

A Democratic bill with 11 Republican cosponsors · See all 22 cosponsors

Last activity — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In the other chamber's committee

Passed one chamber and has been handed to a committee in the other.

The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.

Its path through Congress

  1. Introduced
  2. Passed House voice vote
  3. In Senate committee

The House by voice vote (members called out yes or no together): no member's position on it was recorded.

What this bill would do

This bill, known as the "Credit Union Board Modernization Act," seeks to amend the Federal Credit Union Act. The primary goal is to modify how often a board of directors must meet. It replaces the requirement for all boards to meet at least once a month with a tiered system based on the credit union's circumstances. Different meeting frequencies would apply to new credit unions, those with high ratings, and those with lower ratings.

Yes

  • Scored +3

    Would business owners be better off under this?

    Provides operational flexibility and reduced regulatory burden for credit union management.

  • Scored +3

    Does this make it easier to run a small business?

    Reduces administrative burdens for stable credit unions by allowing less frequent board meetings.

The opposite

No question was scored the opposite.