CONGRESS FOR VOTERS

Bill Hagerty (R-TN)

Credit Union Board Modernization Act

S. 522 · Senate bill Finance and Financial Sector

A Republican bill with 28 Democratic cosponsors · See all 63 cosponsors

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

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the ``Credit Union Board Modernization Act,'' aims to amend the Federal Credit Union Act. The primary purpose is to modify how often a board of directors must meet. It changes the requirement from a standard monthly meeting schedule. Under this new rule, the frequency of meetings would depend on the credit union's financial and management ratings.

Yes

  • Scored +2

    Would business owners be better off under this?

    It reduces administrative and governance overhead for established and financially stable credit unions.

  • Scored +2

    Does this make it easier to run a small business?

    By reducing required meeting frequencies for stable credit unions, it lowers administrative burdens on financial institutions.

The opposite

No question was scored the opposite.