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119th Congress · H.R. 975 · Passed Origin

Credit Union Board Modernization Act

This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.

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SubjectsAdministrative remediesBanking and financial institutions regulationCorporate finance and managementNational Credit Union Administration

XML scalars

congress
119
type
HR
number
975
originChamber
House
originChamberCode
H
introducedDate
2025-02-04
updateDate
2026-09-17T16:20:27Z
updateDateIncludingText
2026-09-17T16:20:27Z
title
Credit Union Board Modernization Act
legislationUrl
https://www.congress.gov/bill/119th-congress/house-bill/975

Constitutional authority statement (CDATA)

[Congressional Record Volume 171, Number 23 (Tuesday, February 4, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. VARGAS:H.R. 975.Congress has the power to enact this legislation pursuantto the following:(1) To make all Laws which shall be necessary and properfor carrying into Execution the foregoing Powers, and allother Powers vested by this Constitution in the Government ofthe United States, or in any Department or Officer thereof,as enumerated in Article I, Section 8, Clause 18 of the U.S.Constitution.[Page H461]

Pipeline

Track
federal_presidential
Stage
Passed Chamber of Origin
Stage rank
2

Sponsor

  • Rep. Vargas, Juan [D-CA-52] · [D-CA-52] · V000130
    Dem-CA-52 current · 7 terms · @RepJuanVargas · 1 district office

Sponsor record (congress_legislators)

Bio (legislators)

bioguide
V000130
status
current
official_full
Juan Vargas
first
Juan
middle
null
last
Vargas
suffix
null
nickname
null
birthday
1961-03-07
gender
M

Current term (7 total)

type
rep
state
CA
district
52
class
null
party
Democrat
caucus
null
start
2025-01-03
end
2027-01-03
end_type
null
how
null
url
https://vargas.house.gov
address
2467 Rayburn House Office Building Washington DC 20515-0552
office
2467 Rayburn House Office Building
phone
202-225-8045
fax
null
contact_form
null
rss_url
http://vargas.house.gov/rss.xml

Leadership roles (0)

none

Committee memberships (4)

  • Capital Markets (house) · house · rank 4
  • Financial Institutions (house) · house · rank 7
  • House Committee on Financial Services (house) · house · rank 12 · site
  • National Security, Illicit Finance, and International Financial Institutions (house) · house · rank 3

Social media

District offices (1)

  • 333 F St., Suite A, Chula Vista, CA, 91910 · 619-422-5963 · fax 619-422-7290 · 9:00am-5:00pm (PT), Weekdays · 32.6410939,-117.0811877

Other names (0)

none

Sponsor FEC record (fec_live)

Candidate record (candidates) · cycle 2026

candidate_id
H2CA50026
cycle
2026
name
VARGAS, JUAN C.
party
DEMOCRATIC PARTY
office
House
state
CA
district
52
incumbent_challenge
Incumbent
candidate_status
C
active_through
2026
election_year
null
first_file_date
1992-02-06
last_file_date
2024-11-22
last_f2_date
2024-11-22
address
null

Candidate summary (candidate_summaries) · cycle 2026

cycle
2026
total_receipts
$568,519.67
total_disbursements
$495,684.42
cash_on_hand_end_period
$163,675.89
debts_owed_by_committee
$0.00
coverage_start_date
2025-01-01
coverage_end_date
2026-06-30

Connected committees (0)

none

Cosponsors (22)

  • Rep. Huizenga, Bill [R-MI-4] · [R-MI-4] · H001058 · Co-sponsored 2025-02-04 · original
    Rep-MI-4 current · 8 terms · @RepHuizenga · 2 district offices
  • Rep. Casten, Sean [D-IL-6] · [D-IL-6] · C001117 · Co-sponsored 2025-02-07
    Dem-IL-6 current · 4 terms · @RepCasten · 2 district offices
  • Rep. Scholten, Hillary J. [D-MI-3] · [D-MI-3] · S001221 · Co-sponsored 2025-02-07
    Dem-MI-3 current · 2 terms · @RepScholten · 1 district office
  • Rep. Davidson, Warren [R-OH-8] · [R-OH-8] · D000626 · Co-sponsored 2025-02-07
    Rep-OH-8 current · 6 terms · @WarrenDavidson · 2 district offices
  • Rep. Meuser, Daniel [R-PA-9] · [R-PA-9] · M001204 · Co-sponsored 2025-02-07
    Rep-PA-9 current · 4 terms · @RepMeuser · 7 district offices
  • Rep. Foster, Bill [D-IL-11] · [D-IL-11] · F000454 · Co-sponsored 2025-02-07
    Dem-IL-11 current · 9 terms · @RepBillFoster · 2 district offices
  • Rep. Kim, Young [R-CA-40] · [R-CA-40] · K000397 · Co-sponsored 2025-02-07
    Rep-CA-40 current · 3 terms · @RepYoungKim · 2 district offices
  • Rep. Issa, Darrell [R-CA-48] · [R-CA-48] · I000056 · Co-sponsored 2025-02-07
    Rep-CA-48 current · 12 terms · @repdarrellissa · 3 district offices
  • Rep. Fulcher, Russ [R-ID-1] · [R-ID-1] · F000469 · Co-sponsored 2025-02-07
    Rep-ID-1 current · 4 terms · @RepRussFulcher · 3 district offices
  • Rep. Carbajal, Salud O. [D-CA-24] · [D-CA-24] · C001112 · Co-sponsored 2025-02-07
    Dem-CA-24 current · 5 terms · @RepCarbajal · 3 district offices
  • Rep. Meeks, Gregory W. [D-NY-5] · [D-NY-5] · M001137 · Co-sponsored 2025-02-07
    Dem-NY-5 current · 15 terms · @RepGregoryMeeks · 2 district offices
  • Rep. Griffith, H. Morgan [R-VA-9] · [R-VA-9] · G000568 · Co-sponsored 2025-02-07
    Rep-VA-9 current · 8 terms · @RepMGriffith · 2 district offices
  • Rep. Finstad, Brad [R-MN-1] · [R-MN-1] · F000475 · Co-sponsored 2025-02-07
    Rep-MN-1 current · 3 terms · @RepFinstad · 2 district offices
  • Rep. Titus, Dina [D-NV-1] · [D-NV-1] · T000468 · Co-sponsored 2025-02-07
    Dem-NV-1 current · 8 terms · @RepDinaTitus · 1 district office
  • Rep. Chu, Judy [D-CA-28] · [D-CA-28] · C001080 · Co-sponsored 2025-02-07
    Dem-CA-28 current · 9 terms · @RepJudyChu · 2 district offices
  • Rep. Sherman, Brad [D-CA-32] · [D-CA-32] · S000344 · Co-sponsored 2025-02-07
    Dem-CA-32 current · 15 terms · @BradSherman · 1 district office
  • Rep. Costa, Jim [D-CA-21] · [D-CA-21] · C001059 · Co-sponsored 2025-02-10
    Dem-CA-21 current · 11 terms · @RepJimCosta · 2 district offices
  • Rep. Williams, Nikema [D-GA-5] · [D-GA-5] · W000788 · Co-sponsored 2025-02-10
    Dem-GA-5 current · 3 terms · @RepNikema · 1 district office
  • Rep. Nunn, Zachary [R-IA-3] · [R-IA-3] · N000193 · Co-sponsored 2025-02-10
    Rep-IA-3 current · 2 terms · @ZachNunn · 3 district offices
  • Rep. Timmons, William R. [R-SC-4] · [R-SC-4] · T000480 · Co-sponsored 2025-02-10
    Rep-SC-4 current · 4 terms · @RepTimmons · 1 district office
  • Rep. Peters, Scott H. [D-CA-50] · [D-CA-50] · P000608 · Co-sponsored 2025-02-10
    Dem-CA-50 current · 7 terms · @RepScottPeters · 2 district offices
  • Rep. Lucas, Frank D. [R-OK-3] · [R-OK-3] · L000491 · Co-sponsored 2025-02-10
    Rep-OK-3 current · 17 terms · @RepFrankLucas · 1 district office

Committees (2)

  • Banking, Housing, and Urban Affairs Committee [Senate Standing]
    2025-02-11T15:40:34ZReferred To
  • Financial Services Committee [House Standing]
    2025-02-04T17:10:00ZReferred To

Actions — from XML (10)

  • 2025-02-11IntroReferralvia Senate
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • 2025-02-10 17:24:46FloorH38310via House floor actions
    Motion to reconsider laid on the table Agreed to without objection.
  • 2025-02-10 17:24:44FloorH37300via House floor actions
    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
  • 2025-02-10 17:24:44Floor8000via Library of Congress
    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H601-602)
  • 2025-02-10 17:14:29FloorH8D000via House floor actions
    DEBATE - The House proceeded with forty minutes of debate on H.R. 975.
  • 2025-02-10 17:14:27FloorH30000via House floor actions
    Considered under suspension of the rules. (consideration: CR H601-603)
  • 2025-02-10 17:14:16FloorH30300via House floor actions
    Mr. Hill (AR) moved to suspend the rules and pass the bill.
  • 2025-02-04IntroReferralH11100via House floor actions
    Referred to the House Committee on Financial Services.
  • 2025-02-04IntroReferralIntro-Hvia Library of Congress
    Introduced in House
  • 2025-02-04IntroReferral1000via Library of Congress
    Introduced in House

Actions — from bill_actions table (0)

none

Titles

  • Official Title from EH (Engrossed in House) bill textEHH2026-07-11T22:08:20Z
    To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.
  • Short Titles from RFS (Referred to Senate) bill textRFSS2025-02-15T05:23:17Z
    Credit Union Board Modernization Act
  • Short Title(s) as Passed HouseEHH2025-02-12T02:53:16Z
    Credit Union Board Modernization Act
  • Display Title2025-02-08T05:53:22Z
    Credit Union Board Modernization Act
  • Short Title(s) as IntroducedIH2025-02-08T05:53:19Z
    Credit Union Board Modernization Act
  • Official Title as IntroducedIH2025-02-08T05:48:29Z
    To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.

Text versions (from XML)

Versions — from bill_versions table (0)

none

Policy area

Finance and Financial Sector

Summaries

00 · 2025-02-04 · Introduced in House

Credit Union Board Modernization Act

This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.

Related bills

  • HR 6955 (119) Main Street Capital Access Act
    Latest: 2026-07-22 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
    Relationship: Related bill (via CRS)
  • S 522 (119) Credit Union Board Modernization Act
    Latest: 2025-02-11 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
    Relationship: Related bill (via CRS)
  • HR 6644 (119) 21st Century ROAD to Housing Act
    Latest: 2026-07-11 — Became Public Law No: 119-101.
    Relationship: Related bill (via CRS), Contained in public law (via CRS)
  • HR 185 (119) Responsible Legislating Act
    Latest: 2025-03-14 — Referred to the Subcommittee on Livestock, Dairy, and Poultry.
    Relationship: Related bill (via CRS)

Amendments (0)

none

Laws

none

Committee reports

none

Calendar number

null

CBO cost estimates

none

Latest action

Date
2025-02-11
Text
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Time
null

Dublin Core

format
text/xml
language
EN
rights
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
contributor
Congressional Research Service, Library of Congress
description
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.

Row fields (debug)

id
941
congress
119
bill_type
hr
bill_number
975
bill_slug
hr-975-119
title
Credit Union Board Modernization Act
short_title
Credit Union Board Modernization Act
sponsor_bioguide_id
V000130
sponsor_name
Rep. Vargas, Juan [D-CA-52]
sponsor_party
D
sponsor_state
CA
introduced_date
2025-02-04
latest_action_date
2025-02-11
latest_action_text
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
status
Committee
policy_area
Finance and Financial Sector
subjects_json
[
  "Administrative remedies",
  "Banking and financial institutions regulation",
  "Corporate finance and management",
  "National Credit Union Administration"
]
govinfo_billstatus_path
BILLSTATUS-119hr975
raw_billstatus_xml
<?xml version="1.0" encoding="utf-8" standalone="no"?> <billStatus> <version>3.0.0</version> <bill> <number>975</number> <updateDate>2026-09-17T16:20:27Z</updateDate> <updateDateIncludingText>2026-09-17T16:20:27Z</updateDateIncludingText> <originChamber>House</originChamber> <originChamberCode>H</originChamberCode> <type>HR</type> <introducedDate>2025-02-04</intr…
summary_lede
This bill reduces the required frequency of meetings held by the board of directors of certain credit unions. Under the bill, new credit unions and credit unions with a low soundness rating must meet monthly, as required under current law. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter.
topic_primary
finance
topic_secondary_json
[]
action_family
committee_active
response_available
0
response_type
null
response_deadline
null
importance_score
null
consequence_score
null
urgency_score
null
overall_score
null
in_canopy
0
canopy_expires_at
null
pipeline_track
federal_presidential
pipeline_stage
passed_origin
pipeline_stage_rank
2
stable_action_id
hr-975-119
jurisdiction
federal
lock_status
open
lock_at
null
content_hash
f6b02c6303d09f3c21379bfce0ba0a31dfed174538b637d8344c7ddf4cd4f8ae
anchored_at
null
anchor_merkle_root
null
source_kind
api_fill
first_seen_at
2026-04-20T08:15:57.988066+00:00
last_seen_at
2026-09-24T11:30:43.509089+00:00
⎔ Anchored0x0000…0000Epoch 2026-Q4