Legislative & Regulatory Update

John Alexander from the NCSL where they addressed urgent issues facing Americans today. Plus, social media advertising compliance session at New Ideas Conference! 

by John Alexander, Director of Legislative & Regulatory Affairs

​Building a Better Future: Credit Unions at the NCSL Convention
Louisville, Kentucky, played host to the National Conference of State Legislatures (NCSL) annual convention from August 5th through the 7th, drawing legislators, staff, and policy experts from across the United States. The event served as a vital forum for our team to share ideas, learn from our credit union experts, and discuss pressing legislative issues ranging from health and education to economic development.

This year’s convention featured an impressive lineup of workshops, keynote addresses, and committee meetings. Among the attendees were representatives from America's Credit Unions, including the American Association of Credit Union Leagues, the Illinois Credit Union League, the New Mexico Credit Union League, the Dakota Credit Union Association (DakCU, woot-woot), and the Kentucky Credit Union League, among others. These groups gathered to address one of the most urgent issues facing Americans today: the rising cost of homeownership.

The cost of owning a home in America has reached alarming levels, with 22.7% of Americans now classified as cost-burdened, and 10% of households spending more than half of their monthly income on housing. This critical issue was a focal point for the credit union representatives, who articulated how credit unions are creating affordable housing opportunities for their members across the country, including in the host state, Kentucky, and our home in the Dakotas.

During the convention, I had the opportunity to attend several sessions, but the Banking and Financial Services Standing Committee's deep dive into housing issues stood out. This session addressed key challenges, such as local zoning regulations, the need for small to medium-sized housing, and the strong market demand for new housing options. Additionally, discussions centered around transitioning renters into homeowners through educational services, which can reduce displacement, strengthen credit scores, promote asset building, and improve overall economic mobility.

In essence, at the NCSL convention, everyone we spoke with, for the most part, loved the role credit unions play in addressing housing affordability and fostering economic development. Through collaboration and advocacy, we are not just helping our members but also contributing to a more stable and equitable housing market for all Americans.

Social Media & Advertising Compliance Pain Points
In this ever-evolving landscape of digital marketing, ensuring federal advertising compliance in social media is critical, but can be challenging. That is why we have asked our compliance partner, ViClarity, to join us for DakCU’s New Ideas Conference coming up on September 24 – 25 in Bismarck Mandan.
 
Their marketing compliance expert, Jennifer Adkisson, will delve into the intricate world of compliance within the social media advertising space, focusing on key pain points and risks that credit unions often face. With this informative session, you will gain a clearer understanding of the current social media compliance nuances, along with practical tips for managing social media marketing risks. You will also have a better understanding of key federal advertising compliance considerations that come into play when marketing via social media.
 
On a side note, you can save $50 if you register by Thursday, August 15. Click here for more information and the incredible speaker lineup! As always, feel free to contact me with any advocacy or regulatory questions or concerns.