The House is expected to vote on the CUNA-League-led Credit Union Board Modernization Act (H.R. 6889) this week. The bill—from Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio, passed the House Financial Services Committee in July and was introduced during the 2022 CUNA Governmental Affairs Conference.
The bill would allow boards of federally charted credit unions the flexibility to meet at minimum six times a year rather than the required 12 times a year.
“We thank House leadership for bringing this bill to the House floor and encourage all members to support this bipartisan, common-sense piece of legislation,” said CUNA President/CEO Jim Nussle.
Sens. Kyrsten Sinema, D-Ariz., Bill Hagerty, R-Tenn., Alex Padilla, D-Calif., and Thom Tillis, R-N.C., introduced a Senate version in May.