3.0.0 1767 2023-03-08T20:12:35Z 2023-03-08T20:12:35Z Senate S 2021-05-20 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-05-20T19:11:30Z Credit Union Governance Modernization Act of 2021 117 2311 HR 2021-11-16 Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote. Related bill CRS 2021-05-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-05-20 Introduced in Senate IntroReferral 10000 9 Library of Congress S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN N S001197 Sen. Sasse, Ben [R-NE] Ben Sasse R NE 2021-05-20 True T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2022-03-01 False D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2022-03-01 False K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2022-03-01 False H000601 Sen. Hagerty, Bill [R-TN] Bill Hagerty R TN 2022-03-01 False B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2022-03-10 False R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2022-03-10 False Finance and Financial Sector Administrative remedies Bank accounts, deposits, capital Banking and financial institutions regulation Fraud offenses and financial crimes Finance and Financial Sector 00 2021-05-20 Introduced in Senate 2021-11-17T15:16:46Z Credit Union Employee and Member Safety 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.
]]> Credit Union Employee and Member Safety Act of 2021 Display Title Credit Union Employee and Member Safety Act of 2021 Official Title as Introduced A bill to amend the Federal Credit Union Act to modernize certain processes regarding expulsion of credit union members for cause, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced Credit Union Employee and Member Safety Act of 2021 Introduced in Senate IS Introduced in Senate 2021-05-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1767is/xml/BILLS-117s1767is.xml 2021-05-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN 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. Congressional Research Service, Library of Congress 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.