Legislative Update with Chesney

​Markup of FY2025 National Defense Authorization Act begins; and the South Dakota advocacy golf event is filling quickly – be sure to register soon. 

by Chesney Garnos, Director of Political & Grassroots Affairs
 
FY2025 National Defense Authorization Act
Last week, the House Armed Services Committee began its markup of the FY2025 National Defense Authorization Act. This piece of legislation is a defense bill valued at $850 billion, which includes significant allocations towards national defense spending, with funds going towards a new submarine, planes, and other related programs. The House Armed Services Committee advanced its version of the Fiscal Year 2025 National Defense Authorization Act (NDAA) Wednesday without any amendments expanding land lease arrangements to for-profit banks, while the Senate is scheduled to mark up their version of this legislation from June 11th to June 14th.  
 
America’s Credit Unions currently stands opposed to any amendments from the banking lobby on Department of Defense (DoD) land leases as there are significant differences between for-profit banks and not-for-profit credit unions. Our advocacy team at DakCU will continue to monitor this legislation to ensure no potential amendments will be attached to this legislation, such as the Credit Card Competition Act, which has been a piece of legislation Senators Marshall and Durbin have been attempting to attach on any moving piece of legislation in the House. We will continue to work closely with our delegation in North and South Dakota to ensure the defense bill remains as a piece of defense legislation. If you have any questions or concerns regarding this piece of legislation currently, please contact me directly.
 
Golf for a cause!
Spots are filling up for our first ever South Dakota advocacy golf event! With over half our team spots taken and many of our sponsorships filled, there are still opportunities for you to get involved! Simply go online and register before it is too late!
 
This event is being presented by the South Dakota Governmental Affairs Committee, who is inviting you to join us for an exclusive credit union golf outing, Par for the PAC! This golf outing is an excellent opportunity to meet local legislators and officials who make policy decisions affecting our industry. You will be able to enjoy a fun day of golf with credit union members, partners, and lawmakers, followed by an evening social featuring a special update from keynote speaker, Jody Gillaspie, Director of the Division of Consumer Protection for the South Dakota Attorney General’s Office. Your support will help advance our advocacy efforts towards a more favorable legislative and regulatory environment for credit unions. You can find registration and additional details here, and the day’s schedule is included below. We hope to see you there!
 
SD CU Advocacy Golf Classic – Thursday, July 18
12:00 p.m. – Registration Opens
1:00 p.m. – Shotgun Start
​5:00 p.m. – Awards Social with light appetizers and drinks
5:30 p.m. – Special update from keynote speaker, Jody Gillaspie, Director of the Division of Consumer Protection for the South Dakota Attorney General’s Office. 

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