CUNA/League-Supported Bipartisan FCU Act Update Introduced
On March 2, Reps. Juan Vargas (D-CA) and Anthony Gonzalez (R-OH) introduced the Credit Union National Association (CUNA)/League-supported Credit Union Board Modernization Act (H.R. 6889) to update the Federal Credit Union Act by modifying the requirement that credit union boards meet once a month to not less than six times per year.
CUNA, the California Credit Union League, and the Ohio Credit Union League worked closely with Vargas and Gonzalez on the bill.
“The California Credit Union League greatly appreciates the leadership and effort by Rep. Vargas and his team. We’ve always enjoyed a strong relationship with Rep. Vargas through his tenure in the state legislature and now in Congress as a member of the Financial Services Committee,” said Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues. “We applaud his efforts and were happy to connect him with this issue. This is another example of quality bipartisan leadership on issues that are important to our industry.”
CUNA and the California and Nevada Credit Union Leagues would also like to acknowledge the bi-partisan effort that began this initiative led by Rep. Katie Porter (D-CA) and Mark Amodei (R-NV) on his issue and thank them for introducing this bill in the previous Congress.
Both Porter and Amodei have committed to being original co-sponsors of this bill, sending a message they are firmly behind their initiative from last Congress, and both are leaders for the credit union industry. Porter spoke about the bill at the 2020 Governmental Affairs Conference.
Additional original cosponsors on the Credit Union Board Modernization Act include Reps. Pete Aguilar (D-CA), Lucille Roybal-Allard (D-CA), Dina Titus (D-NV), Ed Case (D-HI), Kai Kahele (D-HI), Julia Brownley (D-CA), Pete Sessions (R-TX), William Timmons (R-SC), Blake Moore (R-UT), Alex Mooney (R-WV), Ted Budd (R-NC), Mary Miller (R-IL), Brian Fitzpatrick (R-PA), Warren Davidson (R-OH), and Mike Johnson (R-LA).
This article originally appeared in CUNA News on March 2, 2022.
