,,ii  #aagth ,,congress  #b;d ,session  
,s4 #dcbe  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #bf1      
#bjbb,ms4 ,sinema 7for herself1 ,mr4    
,hagerty1 ,mr4 ,padilla1 and ,mr4       
,tillis7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to amend   
the ,federal ,credit ,union ,act to     
modify the frequency of board of        
directors meetings1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,credit ,union      
,board ,modernization ,act4  #b4        
,frequency of board of directors        
meetings ,section #aac of the ,federal  
,credit ,union ,act 7#ab ,u4,s4,c4      
#agfa;b7 is amended-- 7#a7 in paragraph 
7#ae71 by striking monthly each place   
the term appears2  7#b7 in the matter   
preceding paragraph 7#a71 by striking   
,the board of directors shall meet at   
least once a month and and inserting the
 following3  7a7 ,in general ,the board 

of directors  2 and  7#c7 by adding at  
the end the following3  7b7 ,meetings   
,the board of directors shall meet as   
follows3 7#a7 ,except as provided in    
paragraphs 7#b7 and 7#c71 not less      
frequently than #f times annually1 with 
not fewer than #a meeting held during   
each fiscal quarter4  7#b7 ,not less    
frequently than monthly during the      
#e-year period beginning on the date on 
which the charter is issued4  7#c7 ,not 
less frequently than monthly with       
respect to a ,federal credit union with 
composite rating of #d or #e under the  
,uniform ,financial ,institutions       
,rating ,system 7or an equivalent rating
 under a comparable rating system74  4