House Bill 975
119th Congress(2025-2026)
Credit Union Board Modernization Act
Active
Passed House on Feb 10, 2025
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
975
Congress
119
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.
checkPassed on February 10, 2025
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
Summary
Unavailable
February 11, 2025
February 10, 2025
February 4, 2025
Sort by most recent
02/11/2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
02/10/2025
Motion to reconsider laid on the table Agreed to without objection.
02/10/2025
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
02/10/2025
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
02/10/2025
DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
02/10/2025
Considered under suspension of the rules. (consideration: CR H601-603)
02/10/2025
Mr. Hill (AR) moved to suspend the rules and pass the bill.
02/04/2025
Referred to the House Committee on Financial Services.
02/04/2025
Introduced in House
Bill Intelligence
The bill updates the frequency of board of directors meetings for Federal credit unions.
Meetings are adjusted based on the credit union's age, financial rating, and management capability.
For newer credit unions, meetings are required monthly for the first five years.
More established credit unions with higher ratings have reduced meeting frequency, while those with lower ratings meet monthly.
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Public Record
Record Updated
Mar 10, 2025 7:25:12 PM