WASHINGTON--The bipartisan Housing for the 21st Century Act — a package designed to expand housing supply and improve affordability — cleared the House of Representatives Monday in a 390–9 vote. The measure now advances to the Senate for further action.
The bill included the Credit Union Board Modernization Act as an amendment.
The bill was sponsored by House Financial Services Committee Chair French Hill of Arkansas, Ranking Member Maxine Waters of California, Housing and Insurance Subcommittee Chair Mike Flood of Nebraska, and Ranking Member Emanuel Cleaver of Missouri. The full committee previously approved the legislation in December 2025 by a 50–1 vote.
America's Credit Unions commented on the bill's passage.
“The Housing for the 21st Century Act is an important step forward for credit unions, with several provisions that provide regulatory relief and support housing affordability," stated ACU President/CEO Scott Simpson. "For years, America’s Credit Unions has advocated for modernizing outdated credit union governance rules that no longer reflect how institutions operate or the communities they serve. The inclusion of the bipartisan Credit Union Board Modernization Act within this package gives credit unions greater flexibility to build strong, effective boards while maintaining robust oversight and accountability.
“Modern governance helps credit unions focus on what matters most: expanding access to affordable financial services, supporting homeownership, and serving members during times of economic uncertainty. We appreciate the House continuing to recognize the need for these updates and urge the Senate to move quickly to advance these commonsense reforms," concluded Simpson.
The Defense Credit Union Council applauded the passage.
“DCUC strongly supports House passage of H.R. 6644 and appreciates lawmakers for including meaningful credit union reforms, particularly board modernization and risk-based supervisory tailoring," stated DCUC Chief Advocacy Officer Jason Stverak. "The bill appropriately modernizes governance by allowing well-rated federal credit unions to meet at least six times annually—rather than mandating monthly meetings—while preserving heightened oversight for new or troubled institutions. Just as important, the supervisory provisions adopt a true TAILOR Act approach by allowing well-managed credit unions under $6 billion in assets to alternate limited-scope exams and request combined examinations, reducing duplicative regulatory burden without compromising safety and soundness.
"As this bill moves into House–Senate negotiations, Congress should build on this progress by including two bipartisan priorities: modernization of the NCUA’s Central Liquidity Facility and passage of the Veterans Member Business Loan Act," continued Stverak. "Strengthening the credit union liquidity backstop and expanding access to capital for veteran-owned small businesses are commonsense, no-cost reforms that directly support housing stability, economic opportunity, and military family readiness. DCUC urges Congress to finish the job.”
DCUC Monday sent a letter to House Financial Services Committee leadership expressing strong support for H.R. 6644, urging swift House passage.
Washington CU advocate John McKechnie recognized the opportunity for the movement.
"There are several interesting things about this from a credit union perspective. First and most obviously, it includes credit union-backed provisions, something that isn’t always the case when Congress tackles big issues. The huge margin is also significant. It shows real bipartisan support, and that counts," McKechnie pointed out. "But above all else, this looks like a bill that could actually become law. The House acted today, and all indications are that the Senate is ready to follow suit Credit unions would be wise to recognize this, take a seat at the table, offer ideas, and work to make this bill even more attractive. The door is open, and we need to walk through it."