Search
 

CU Modernization Bill Passes House Again

The bill’s future in the Senate is unclear as the legislation hopes to reduce credit union board meeting requirements.

By Michael Ogden | February 11, 2025 at 02:00 PM
The U.S. Capitol

The Credit Union Board Modernization Act once again passed the House of Representatives on Monday by voice vote. The bill, drafted by Reps. Juan Vargas (D-Calif.) and Bill Huizenga (R-Mich.), would give credit union boards greater flexibility to meet as few as six times each year, instead of following the monthly meeting requirement as stated in the Federal Credit Union Act.

The path for the now three-times-passed bill heads to the Senate, where lawmakers have yet to put the legislation up for a vote in recent years.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2025 ALM Global, LLC. All Rights Reserved.