S. 522: Credit Union Board Modernization Act

119th Congress · introduced 2025-02-11 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

What does this mean?

Official title

Credit Union Board Modernization Act

Plain summary

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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Credit Union Board Modernization Act

Source: Congressional Research Service summary (Introduced in Senate)

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Officials and money

Sponsor: Sen. Hagerty, Bill [R-TN] · 63 cosponsors

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Cosponsors on this site

Lisa Blunt Rochester (D-DE), Tommy Tuberville (R-AL), Mike Lee (R-UT), John Hoeven (R-ND), Kevin Cramer (R-ND), Ted Budd (R-NC), Angus S. King, Jr. (I-ME), Amy Klobuchar (D-MN), Catherine Cortez Masto (D-NV), Susan M. Collins (R-ME), Deb Fischer (R-NE), Tim Kaine (D-VA), Jeff Merkley (D-OR), Christopher A. Coons (D-DE), Mike Crapo (R-ID), Jack Reed (D-RI), James E. Risch (R-ID), Pete Ricketts (R-NE), John Barrasso (R-WY), Steve Daines (R-MT), Lisa Murkowski (R-AK), John Boozman (R-AR), Katie Boyd Britt (R-AL), Todd Young (R-IN), Sheldon Whitehouse (D-RI), John R. Curtis (R-UT), Mike Rounds (R-SD), Mark R. Warner (D-VA), Dan Sullivan (R-AK), James C. Justice (R-WV), Bill Cassidy (R-LA), Alex Padilla (D-CA), Tom Cotton (R-AR), Joni Ernst (R-IA), Thom Tillis (R-NC), Gary C. Peters (D-MI), Jeanne Shaheen (D-NH), Adam B. Schiff (D-CA), Bernie Moreno (R-OH), Angela D. Alsobrooks (D-MD), Andy Kim (D-NJ), Tina Smith (D-MN), John W. Hickenlooper (D-CO), Elissa Slotkin (D-MI), Marsha Blackburn (R-TN), Shelley Moore Capito (R-WV), Tim Sheehy (R-MT), Chris Van Hollen (D-MD), Tammy Baldwin (D-WI), Jon Husted (R-OH), Jim Banks (R-IN), Raphael G. Warnock (D-GA), Rick Scott (R-FL), Jon Ossoff (D-GA), Ben Ray Luján (D-NM), Ruben Gallego (D-AZ), Patty Murray (D-WA), Mark Kelly (D-AZ), Peter Welch (D-VT), Roger F. Wicker (R-MS) and 3 more.

Sponsor's campaign money: Sen. Hagerty, Bill [R-TN] reported raising $8.4 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Words on this page, explained (1)

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Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s522.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

Record fed-us-cong119-s522 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills