Credit Union Board Modernization Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires replaces blanket monthly board meeting requirement for Federal credit unions with a tiered, risk-based meeting frequency: monthly for new CUs (first 5 years) and poorly-rated CUs (CAMELS 3-5), but only 6 times. It relies on compliance mandates and exemptions. The main policy areas are Finance and Financial Regulation.
Who Benefits and How
Well-rated Federal credit unions (CAMELS 1-2 composite and management ratings, >5 years old) could face lower compliance burdens and Credit union board members at well-managed, established institutions could see lower costs.
Who Bears the Burden and How
Poorly-rated Federal credit unions (CAMELS 3-5 composite or management ratings) would take on compliance duties and New Federal credit unions (first 5 years of operation) would take on compliance duties.
Key Provisions
- Requires replaces blanket monthly board meeting requirement for Federal credit unions with a tiered, risk-based meeting frequency: monthly for new CUs (first 5 years) and poorly-rated CUs (CAMELS 3-5), but only 6 times...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires replaces blanket monthly board meeting requirement for Federal credit unions with a tiered, risk-based meeting frequency: monthly for new CUs (first 5 years) and poorly-rated CUs (CAMELS 3-5), but only 6 times.
Key Policy Areas
Finance, Financial Regulation
Primary Purpose
The bill requires replaces blanket monthly board meeting requirement for Federal credit unions with a tiered, risk-based meeting frequency: monthly for new CUs (first 5 years) and poorly-rated CUs (CAMELS 3-5), but only 6 times.
Policy Domains
Whole bill
Identified Gains
- Well-rated Federal credit unions (CAMELS 1-2 composite and management ratings, >5 years old)
- Credit union board members at well-managed, established institutions
Identified Costs
- Poorly-rated Federal credit unions (CAMELS 3-5 composite or management ratings)
- New Federal credit unions (first 5 years of operation)
Sponsors
Legislative Progress
In CommitteeMr. Hagerty (for himself and Ms. Blunt Rochester) introduced the …
Read twice and referred to the Committee on Banking, Housing, …
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Credit union board members at well-managed, established institutions, Poorly-rated Federal credit unions (CAMELS 3-5 composite or management ratings), Well-rated Federal credit unions (CAMELS 1-2 composite and management ratings, >5 years old)
Positive-direction: Credit union board members at well-managed, established institutions, Well-rated Federal credit unions (CAMELS 1-2 composite and management ratings, >5 years old)
Negative-direction: Poorly-rated Federal credit unions (CAMELS 3-5 composite or management ratings)
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology