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Bill117th CongressFiled Mar 1, 2022Finance and Financial Sector
H.R. 6889

Credit Union Board Modernization Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Sep 29, 2022)

Credit Union Board Modernization Act

This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.

What just happenedOct 11, 2022

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

Who’s behind it

Rep. Vargas, Juan [D-CA-51](D-CA)Sponsor
109 cosponsors52 D57 R
Read on Congress.gov
109cosponsors2committees17actions2related bills4subjects
  1. Oct 11, 2022IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Sep 29, 2022FloorH37300

    Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.

  3. Sep 29, 2022Floor8000

    Passed/agreed to in House: Pursuant to section 10 of H. Res. 1396, and the motion offered by Mr. Hoyer, the following bills passed under suspension of the rules: H.R. 1638, as amended; H.R. 3304, as amended; H.R. 4081, as amended; H.R. 4821, as amended; H.R. 6889, as amended; H.R. 6967, as amended; H.R. 8163, as amended; H.R. 8510, as amended; H.R. 8681, as amended; H.R. 8875, as amended; H.R. 8956; S. 1198; and agree to the Senate amendments to H.R. 5641.

  4. Sep 29, 2022FloorH1B000

    Pursuant to the provisions of H. Res. 1396, proceedings on H.R. 6889 are considered vacated.

  5. Sep 29, 2022FloorH38800

    The title of the measure was amended. Agreed to without objection.

  6. Sep 28, 2022FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

  7. Sep 28, 2022FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 6889.

  8. Sep 28, 2022FloorH30000

    Considered under suspension of the rules. (consideration: CR H8157-8158; text: CR H8157-8158)

  9. Sep 28, 2022FloorH30300

    Ms. Waters moved to suspend the rules and pass the bill, as amended.

  10. Sep 28, 2022CalendarsH12410

    Placed on the Union Calendar, Calendar No. 386.

  11. Sep 28, 2022CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-517.

    Financial Services Committee
  12. Sep 28, 2022Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-517.

    Financial Services Committee
  13. Jul 27, 2022Committee

    Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.

    Financial Services Committee
  14. Jul 27, 2022Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. Mar 1, 2022IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  16. Mar 1, 2022IntroReferralIntro-H

    Introduced in House

  17. Mar 1, 2022IntroReferral1000

    Introduced in House

Passed HouseSep 29, 202253

Credit Union Board Modernization Act

This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.

Introduced in HouseMar 1, 2022

Credit Union Board Modernization Act

This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. 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.

Credit Union Board Modernization Act — Informed