S. 522 explained · 119th Congress · Pending in Congress
Credit Union Board Modernization Act
Cosponsors: 63 (28 D, 34 R, 1 other) · per Congress.gov, 2026-10-12
Introduced: 2025-02-11
Latest action (2025-02-11): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
What S. 522 does, in plain terms
Credit Union Board Modernization Act This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.
Official summary by the Congressional Research Service, via Congress.gov.
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