Federal charter modernization clears U.S. House
Published by: Jared Weiser
October 5, 2022 | Government Affairs
Credit union boards need the ability to adopt reasonable governance practices that best meet membership obligations. By passing H.R. 6889, the Credit Union Board Modernization Act, Congress took a key step toward empowering federally chartered credit unions with modern and flexible operational management authorities that empower credit unions to focus more on serving members. The League worked closely with Congressman Anthony Gonzalez (R-Rocky River) to introduce the legislation, which modernizes federally chartered credit union board meeting frequency requirements to no less than six times per year. The CUNA/League system will now focus its advocacy efforts with the U.S. Senate, where we will continue championing this commonsense and bipartisan legislation.
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