,,ii  #aai? ,,congress  #a/ ,session    
,s4 #ebb  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #aa1 #bjbe,mr4
 ,hag]ty 7= himself & ,ms4 ,blunt       
,ro*e/]7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,f$]al ,cr$it ,union 
,act to modify ! frequ5cy ( bo>d (      
directors meet+s1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,cr$it ,union ,bo>d ,mod]nization ,act4 
#b4 ,frequ5cy ( bo>d ( directors meet+s 
,section #aac ( ! ,f$]al ,cr$it ,union  
,act 7#ab ,u4,s4,c4 #agfa;b7 is am5d$-- 
7#a7 9 p>agraph 7#ae71 by /rik+ mon?ly  
ea* place ! t]m appe>s2  7#b7 9 ! matt] 
prec$+ p>agraph 7#a71 by /rik+ ,! bo>d (
 directors & ins]t+ ! foll[+3  7a7 ,9   
g5]al ,! bo>d ( directors  2  7#c7 9    
subsection 7a71 z s designat$1 9 ! matt]
 prec$+ p>agraph 7#a71 by /rik+ %all    
meet at lea/ once a mon? &2 &  7#d7 by  
add+ at ! end ! foll[+3  7b7 ,meet+s ,! 
bo>d ( directors ( a ,f$]al cr$it union 

%all meet z foll[s3 7#a7 ,n less        
frequ5tly ?an mon?ly dur+ ! #e-ye> p]iod
 beg9n+ on ! date on :i* ! organization 
c]tificate ( ! ,f$]al cr$it union is    
approv$4  7#b7 ,aft] ! expiration ( !   
#e-ye> p]iod describ$ 9 p>agraph 7#a7-- 
7,a7 n less frequ5tly ?an #f times      
annually1 ) at lea/ #a meet+ held dur+  
ea* fiscal qu>t]1 ) respect to a ,f$]al 
cr$it union-- 7i7 ) composite rat+ ( #a 
or #b "u ! ,uni=m ,f9ancial ,in/itutions
 ,rat+ ,sy/em 7or an equival5t rat+ "u a
 comp>able rat+ sy/em72 &  7ii7 ) a     
capability ( managem5t rat+ "u !        
composite rat+ describ$ 9 clause 7i7 (  
#a or #b2 &  7,b7 n less frequ5tly ?an  
mon?ly1 ) respect to a ,f$]al cr$it     
union-- 7i7 ) composite rat+ ( #c1 #d1  
or #e "u ! ,uni=m ,f9ancial ,in/itutions
 ,rat+ ,sy/em 7or an equival5t rat+ "u a
 comp>able rat+ sy/em72 or  7ii7 ) a    
capability ( managem5t rat+ "u !        
composite rat+ describ$ 9 clause 7i7 (  
#c1 #d1 or #e4  4