Credit Union Governance Modernization Act of 2021

Summary

Credit Union Governance Modernization Act of 2021 This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting. The member may request a hearing from the board of directors. After the hearing, the board shall hold a vote on expelling the member. The expelled member may request reinstatement through a two-thirds vote of the members present at a meeting. Member conduct that may be cause for expulsion includes a material loss to the credit union, a violation of the credit union membership agreement, a substantial disruption to the operations of a credit union, fraud or attempted fraud, and other illegal or inappropriate behavior.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 1 April 2021

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 1 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 November 2021

   Reported

   Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.

   Source: Committee

5. 16 November 2021

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 1 April 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 April 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 1 April 2021

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 1 April 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Emmer, Tom [R-MN-6] · R · Sponsor
• Rep. Perlmutter, Ed [D-CO-7] · D · Sponsor
• Rep. Fortenberry, Jeff [R-NE-1] · R · Cosponsor
• Rep. Delgado, Antonio [D-NY-19] · D · Cosponsor
• Rep. Phillips, Dean [D-MN-3] · D · Cosponsor
• Rep. Sessions, Pete [R-TX-17] · R · Cosponsor
• Rep. Lee, Susie [D-NV-3] · D · Cosponsor
• Rep. Amodei, Mark E. [R-NV-2] · R · Cosponsor
• Rep. Torres, Ritchie [D-NY-15] · D · Cosponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Cosponsor
• Rep. Rose, John W. [R-TN-6] · R · Cosponsor
• Rep. Bonamici, Suzanne [D-OR-1] · D · Cosponsor
• Rep. Womack, Steve [R-AR-3] · R · Cosponsor
• Rep. Crawford, Eric A. "Rick" [R-AR-1] · R · Cosponsor
• Rep. Morelle, Joseph D. [D-NY-25] · D · Cosponsor
• Rep. Herrera Beutler, Jaime [R-WA-3] · R · Cosponsor
• Rep. Stauber, Pete [R-MN-8] · R · Cosponsor
• Rep. Bacon, Don [R-NE-2] · R · Cosponsor
• Rep. Calvert, Ken [R-CA-41] · R · Cosponsor
• Rep. Larsen, Rick [D-WA-2] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to ← Credit Union Employee and Member Safety Act of 2021