Legislative & Regulatory Update

North Dakota Credit Union Legislative Day at the Capitol and the GAC  focusing on issues like field of membership and regulatory overreach.

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By John Alexander, DakCU Director of Legislative & Regulatory Affairs
 
North Dakota Credit Union Legislative Day at the Capitol: Advocating for the Future of Membership
On February 19th, we gather with a singular purpose—to champion the future of credit unions and the communities we serve. Our day begins at the North Dakota Heritage Center, where we’ll meet with our local regulators, setting the stage for critical discussions that will shape the path forward.
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North Dakota Credit Union Legislative Day isn’t just about being seen; it’s about making an impact. This is our moment to engage directly with legislative leadership, ensuring they understand the challenges and opportunities facing credit unions today. We bring together our top executives and our strongest league advocates, unified in our mission to protect and expand our ability to serve members effectively.

The key focus of this year’s discussions? Field of membership. As we step into legislative meetings with Governor Armstrong, Republican and Democratic leadership, and the Department of Financial Institutions, we are leaning on our leaders to ensure that credit unions can continue growing, evolving, and reaching more members in need of financial services.

This isn’t just a conversation—it’s a call to action. We’re here to push for solutions that allow credit unions to thrive while staying true to their not-for-profit, member-first mission. The work we do today will set the foundation for a stronger, more inclusive financial future for all.

GAC 2025: Credit Unions Gear Up for a High-Stakes Advocacy Push
The countdown is on. As the credit union movement prepares to take Washington, D.C., by storm for the 2025 Governmental Affairs Conference (GAC), our message is clear: credit unions are not just another financial institution—we are a financial lifeline for more than 140 million Americans.

With lawmakers in the nation's capital making critical decisions that could shape the future of our industry, the stakes couldn’t be higher. That’s why this year, we’re doubling down on our advocacy efforts, bringing forward key policy priorities designed to protect, empower, and advance credit unions nationwide.

Protecting Credit Unions from Harmful Regulations
One of our top priorities is fighting back against regulatory overreach—particularly when it comes to so-called “junk fees.” The financial industry is under attack from sweeping proposals that lump legitimate, transparent, and highly regulated credit union fees in with the worst offenders in other industries. Our message to Congress and regulators: credit unions are member-owned, not-for-profit institutions that already prioritize fair pricing. Attempts to eliminate or cap these fees could result in fewer services and higher costs for members.
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We’re also pushing for fundamental CFPB reform. The Consumer Financial Protection Bureau has operated for years with unchecked authority, making sweeping changes that affect credit unions without considering their unique structure. Establishing increased oversight and stability within the CFPB will ensure credit unions aren’t unfairly burdened by regulations meant for big banks.

Another urgent issue: the fraud liability shift. Recent policy trends have begun shifting the financial burden of fraudulent transactions onto credit unions, rather than focusing on stopping the bad actors committing the crimes. This is unacceptable. We’re making it clear that credit unions shouldn’t be on the hook for fraud caused by security weaknesses in other industries.

Additionally, protecting interchange fees remains a top priority. Interchange fees are what allow credit unions to fund fraud protection and payment security. Cutting these fees, as some legislators are proposing, would force credit unions to absorb massive costs—ultimately leading to reduced member benefits and fewer financial options for small businesses.

And we’re taking a stand against NCUA overreach. The National Credit Union Administration has been expanding its supervisory powers and increasing spending at an unsustainable rate. We’re advocating for a regulatory approach that ensures proper oversight without adding unnecessary burdens that make it harder for credit unions to serve their members.
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For more information or to share your perspectives, feel free to contact me.