Bill Sponsor
House Bill 2311
117th Congress(2021-2022)
Credit Union Governance Modernization Act of 2021
Introduced
Introduced
Introduced in House on Apr 1, 2021
Overview
Text
Sponsor
Introduced
Apr 1, 2021
Latest Action
Nov 16, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2311
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Minnesota
Republican
Arkansas
Republican
California
Democrat
California
Democrat
Minnesota
Republican
Minnesota
Republican
Nebraska
Democrat
Nevada
Democrat
New York
Republican
Tennessee
Democrat
Washington
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Credit Union Governance Modernization Act of 2021

This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting.

The member may request a hearing from the board of directors. After the hearing, the board shall hold a vote on expelling the member.

The expelled member may request reinstatement through a two-thirds vote of the members present at a meeting.

Member conduct that may be cause for expulsion includes

  • a material loss to the credit union,
  • a violation of the credit union membership agreement,
  • a substantial disruption to the operations of a credit union,
  • fraud or attempted fraud, and
  • other illegal or inappropriate behavior.
Text (1)
April 1, 2021
Actions (4)
11/16/2021
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
11/16/2021
Committee Consideration and Mark-up Session Held.
04/01/2021
Referred to the House Committee on Financial Services.
04/01/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:39 PM