H.R. 975, also known as the “Credit Union Board Modernization Act,” proposes changes to how often the boards of directors of Federal credit unions must meet. It amends the Federal Credit Union Act to remove the existing requirement for monthly meetings. Instead, it sets...
Simple Explanation
The bill is about making some changes to the rules for meetings at credit unions, which are like small banks. It says that some of these meetings can be less often, depending on how well the credit union is doing.