Removing Barriers Blog

Charter Enhancement Bills Introduced this week!
Posted February 26, 2020 by CUNA Advocacy

The CUNA Governmental Affairs Conference brought 5500 credit union advocates to Washington, DC.  It was a great week all around.  We heard from amazing speakers including a few of our movement's regulators and Members of Congress.  

We heard from CFPB Director Kathy Kraninger, NCUA Chairman Rodney Hood, NCUA Board Members Mark McWatters and Todd Harper, and FHFA Director Mark Calabria.

Also on the mainstage were,  Sen. Cory Gardner (R-CO), Sen. Chuck Grassley (R-IA), Rep. Patrick McHenry (R-NC), Rep. Blaine Luetkemeyer (R-MO), Rep. Katie Porter (D-CA), Rep. Brad Sherman (D-CA), Rep. Emanuel Cleaver (D-MO), Rep. Ann Wagner (R-MO), and Rep. Steve Stivers (R-OH).  

There were three credit union charter enhancement bills introduced in Congress this week – one was even announced by Representative Katie Porter right on the GAC mainstage!

S. 3323, the Credit Union Governance Modernization Act of 2020
Sponsors:  Senators Tina Smith (D-MN) and Ben Sasse (R-NE) 
If enacted, this would to allow a credit union board to expel a member for just cause.

S. 3326, the Credit Union Fairness Act
Sponsors: Senators Thom Tillis (R-NC) and Richard Burr (R-NC)
If enacted, this would remove outdated duties for credit union boards and remove the requirement for credit unions to provide NCUA with the names of its loan officers from the Federal Credit Union Act.

The Board Governance Modernization Act
Sponsors: Representatives Katie Porter (D-CA) and Mark Amodei (R-NV)
If enacted, the Board Governance Modernization Act would modify the Federal Credit Union Act requirement that credit union boards meet once a month to not less than six times per year.

Save the date: GAC 2021
February 28 - March 4, 2021 in Washington, DC