Legislators from both sides of the aisle spoke to the CUNA Governmental Affairs Conference (GAC) audience Wednesday morning before an afternoon of credit union visits on Capitol Hill. As if to underscore the importance of those visits, Rep. Katie Porter (D-Calif.) announced during her remarks that she would introduce a bill with important credit union governance modernizations.
The Board Governance Modernization Act would modify the Federal Credit Union Act requirement that credit union boards meet once a month to not more than six times per year.
Porter, who previously taught consumer protection at UC-Irvine and is a member of the House Financial Services Committee, said she is committed to finding ways to allow credit unions to continue to advance communities they serve.
“What I’ve seen again and again is how important it is that families have access to sustainable financial services, and credit unions are so well positioned to fulfill that role,” she said. “I see it every day in my district…we need to make sure in Congress that we are listening to credit unions, listening to our constituents who are members of credit union members and making sure we’re enacting legislation that allows credit unions to thrive and provide needed services.”
continue reading »