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CUNA Backs Board Modernization Bill Prior to Committee Markup

Posted: Jul 28, 2022 | Author: CUNA
advocacy  compliance  Credit Union Board Modernization Act  CUNA  Expanding Access to Credit through Consumer-Permissioned Data Act  HR 6889  Overdraft Protection Act 

CUNA wrote in support of a bill to modernize federal credit union board meeting requirements prior to its markup by the House Financial Services Committee. The Credit Union Board Modernization Act (H.R. 6889) was introduced by Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio.

The bill would allow boards of federally charted credit unions the flexibility to meet at minimum six times a year rather than the required 12 times a year.

CUNA also wrote in opposition of two bills:

  • The Expanding Access to Credit through Consumer-Permissioned Data Act, which CUNA believes reaches too far in mandating lending standards for credit unions.
  • The Overdraft Protection Act, which CUNA believes would unnecessarily limit credit unions’ ability to assist their members.

To view the complete article, please visit CUNA news.

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