Legislative Update with Chesney

​Oppose S. 4943 and H.R. 9303 to prevent harmful regulations! Plus the Dakota Credit Union Foundation golf recap and Pints & Politics dates in South Dakota. 

Chesney with Tyler Gross, foundation secretary/treasurer.

by Chesney Garnos, Director of Political & Grassroots Affairs

Get Involved: Grassroots Action Alert!
Our advocacy team is urging you to get involved and reach out to your federal elected officials! Reaching out is easy - simply click here, fill out your contact information, and send your message to oppose S. 4943 and H.R. 9303!

Background behind S. 4943 and H.R. 9303
Congresswoman Maxine Waters (D-CA), ranking Democrat on the House Financial Services Committee, Senator Richard Blumenthal (D-CT), Chairman of the Senate Permanent Subcommittee on Investigations, and Senator Elizabeth Warren (D-MA), Chair, Senate Banking, Housing, & Urban Affairs Subcommittee on Economic Policy have introduced the “Protecting Consumers from Payment Scams Act” S. 4943 and H.R. 9303.
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Though the bill may sound positive, it would cause more harm than good for our credit unions. This legislation would amend the Electronic Fund Transfer Act (EFTA) to define an unauthorized transfer as one that includes a fraudulently induced transfer, requiring credit unions and other financial institutions to reimburse consumers for this type of fraud. It would also define merchant charges for undelivered goods as errors along with misdirected payments resulting from information a consumer initially provided. EFTA’s current carveout for wire transfers would also change, with the bill treating remittance transfers the same as other electronic fund transfers subject to EFTA’s framework for error resolution and consumer reimbursement. 

Please join us in opposing this legislation by sending a message to your congressional delegation today.
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Foundation Golf
Last week, I had the opportunity to attend the Dakota Credit Union Foundation’s 8th Annual Golf Scramble at Rose Creek Golf Course in Fargo, ND! Though I am not much of a golfer myself, the day was a blast! I had the opportunity to connect with many of our credit union members and partners, in addition to helping to raise funds for the new CU4Kids Micropreemie Unit at Fargo’s Sanford Children’s Hospital. The event was a true success, raising over $25,000! It was an honor to join the group for the day and if you want to hear more about how it went, check out last week’s memo article.

Pints & Politics Dates and Locations
If you haven’t already, please mark your calendars! Check out the Pints & Politics dates below and make sure to invite your credit union colleagues to attend.
September:

• September 16th – Gregory, The Homesteader at 6:00 p.m. CT
• September 19th – Webster, The Galley Bar and Grill at 6:00 p.m. CT

October:

• October 3rd – Rapid City, Hay Camp Brewing Co. at 6:00 p.m. MT
• October 9th - Pierre, luncheon at Oahe Federal Credit Union at 12:00 p.m. CT
• October 15th - Huron, Top Floor Events at 6:00 p.m. CT
• October 16 - Yankton, Ben’s Brewing Co. at 6:00 p.m. CT
• October 17th - Sioux Falls, JJ's Bar at 6:00 p.m. CT

 
I look forward to seeing many of you soon! As always, feel free to contact me with any advocacy questions or concerns. 

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