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Ranking Member Waters Applauds Financial Services Committee Suspension Victories

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, announced passage of the following bills under suspension of the rules:

H.R. 582, "Credit Union Board Modernization Act" is a bill offered by Representative Juan Vargas (D-CA) that would amend the Federal Credit Union Act to modify the frequency of meetings held by a credit union’s board of directors. Specifically, the bill requires monthly meetings for boards of new credit unions during their first five years and for credit unions with a low rating given by their regulatory examiners. All other credit union boards that have a high rating from their examiners would be required to hold at least six meetings annually, with at least one meeting held during each fiscal quarter.

  • Passed the House by a voice vote.

H.R. 500, "The Financial Exploitation Prevention Act of 2023" is a bill offered by Representative Ann Wagner (R-MO) that protects the interests of seniors by delaying the redemption period for a security held by a senior if it is reasonably believed that the redemption happened as a result of that senior being financially exploited.

  • Passed the House by a vote of 419-0.

H.R. 298, "The Expanding Access to Capital for Rural Job Creators Act" is a bill offered by Representative Alex Mooney (R-WV) that assists rural small businesses by directing the Small Business Advocate at the SEC to identify problems faced by rural businesses when trying to access capital to grow.

  • Passed the House by a voice vote.


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