Legislative and Regulatory Update

CFPB Overdraft Rule overturned; Stack the PAC invitations; and more.

By John Alexander, DakCU Director of Legislative & Regulatory Affairs

Congress Rolls Back CFPB's Overdraft Rule: What's at Stake
In a dramatic rebuke of the Consumer Financial Protection Bureau (CFPB), Congress has passed Senate Joint Resolution 18 (S.J.Res. 18), setting the stage to overturn a sweeping overdraft regulation targeting large financial institutions. Introduced by Senator Tim Scott [R-SC], the resolution strikes down the CFPB’s “Overdraft Lending: Very Large Financial Institutions” rule, which was set to cap overdraft fees at $5 or treat them as loans under Truth in Lending Act disclosures.

The CFPB rule, published on December 30, 2024, aimed to eliminate excessive “junk fees” by forcing transparency and fairness. But opponents, especially within the banking lobby, saw it as regulatory overreach. After a narrow 52-48 Senate vote and a 217-211 passage in the House, the resolution now awaits President Trump’s signature.
For credit unions, this fight is symbolic. While DakCU members already maintain member-friendly practices and minimal overdraft reliance, the real issue here is about regulatory authority and who controls consumer finance policy—bureaucrats or elected lawmakers.

If signed into law, this rollback could weaken the CFPB’s broader agenda and signal a shifting tide in financial oversight

Green Envelope Is in Your Inbox, Not Your Mailbox—And That’s the Future Talking
Before we dive into the champagne toasts and the red carpet moments of this year’s Stack the PAC celebration, let’s talk about something that’s changing the way we connect: your invitation.

This year, we're going digital with Green Envelope. That’s right—no more waiting by the mailbox, no more misplaced paper invites under a pile of junk mail. The Dakota Credit Union Association is stepping boldly into the digital age, and we’re bringing you with us.

Why? Because the world isn’t slowing down for stamps.

Traditional mailings have gotten too expensive, too unreliable, and frankly, too outdated for the momentum we’re building. While the cost of a postage stamp creeps closer to the cost of a latte, Green Envelope lets us deliver stylish, secure, and sustainable invitations right to your inbox—instantly. It’s efficient, it’s eco-conscious, and let’s be honest—it’s about time.

Some of you might be wondering, “What’s this email from Green Envelope doing in my inbox?” It’s not spam. It’s your golden ticket. Watch my video below for more information.

Stack the PAC is back—and this year, we’re turning it all the way up.
Held Monday evening at Summit 2025, this exclusive donor recognition event honors the heroes of advocacy: YOU. Whether you've chipped in $24 or championed us with a President-level donation, this is your night to be celebrated. The room will buzz with conversation, clinking glasses, and the kind of gratitude that lingers long after the last toast.

This isn’t just about giving money. It’s about building a movement—one that shapes legislation, influences policy, and protects the future of credit unions across the Dakotas and beyond.

So, check your inbox, not your mailbox. RSVP through Green Envelope. Join us at Stack the PAC on May 12.

Because progress waits for no one—and neither should you.

​Stay Connected
For more information or to share your perspectives, feel free to contact me.