H.R. 582 · 118th Congress · 2023–2024
Credit Union Board Modernization Act
H.R. 582 in the 118th Congress (2023–2024) has passed the house — introduced on Jan 26, 2023, sponsored by Juan Vargas with 60 co-sponsors.
During the 118th Congress (2023–2024), Joe Biden was president, and Republicans held the House majority and Democrats the Senate majority.
- Status
- Passed the House
- Introduced
- Jan 26, 2023
- Co-sponsors
- 60
- Policy area
- Finance and Financial Sector
What it does
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.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Juan Vargas (D-CA). Co-sponsors: 27 Democrats, 33 Republicans.
Where it stands
- IntroducedJan 26, 2023
- Passed the HouseJan 30, 2023
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Jan 31, 2023)
Other Finance and Financial Sector bills in the 118th Congress
- H.R. 1096: 250th Anniversary of the United States Marine Corps Commemorative Coin Act
- H.R. 3315: National Guard and Reservists Debt Relief Extension Act of 2023
- H.R. 807: Working Dog Commemorative Coin Act
- H.R. 7438: FIFA World Cup 2026 Commemorative Coin Act
- S.J.Res. 32: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United…
- H.J.Res. 142: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the…
- S. 305: 250th Anniversary of the United States Marine Corps Commemorative Coin Act
- S. 610: Credit Union Board Modernization Act
- S. 711: Working Dog Commemorative Coin Act
- H.R. 987: Prime Minister Golda Meir Commemorative Coin Act
Committees
- Banking, Housing, and Urban Affairs Committee
- Financial Services Committee
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 582 (118th Congress): Credit Union Board Modernization Act,” https://www.capitolreceipts.com/bill/118-hr-582/credit-union-board-modernization-act (accessed 2026-10-15).