Legislative Update with Chesney

Take action now on the Credit Card Competition Act! Plus, a national and state advocacy update, and some important dates to get on your calendars!

by Chesney Garnos, Director of Political & Grassroots Affairs
 
Take Action Now on the Credit Card Competition Act!
Your voice and advocacy play a pivotal role. Please reach out to lawmakers immediately to stress that the interchange bill should not be tacked on to any legislation moving through Congress or the National Defense Authorization Act (NDAA). It's vital for credit unions to unite and engage our employees and even members to tackle this interchange issue head-on. By acting together, we can ensure our united stance is clearly recognized. Take action today to safeguard the rights and interests of credit unions and their members.
 
National Update
Before jumping into what’s ahead for this week at the national level, here's a brief update on our recent national advocacy efforts:

• We advocated for equal regulatory standards in the payments market, supporting CFPB's rulemaking to hold nonbank entities to the same standards as banks. 
• We pushed for increased housing access, focusing on affordable home loans and modernizing membership criteria. 
• We supported the Homebuyers Privacy Protection Act to stop the misuse of mortgage trigger leads, working with a coalition for its passage. . This issue is particularly relevant in the Dakotas, and we're thankful for Rep. Dusty Johnson and Senator Mike Rounds’ support on this issue. While in Washington, D.C., our South Dakota credit union members were able to have meaningful engagement and discussions on this legislation.

 
It’s another busy week on Capitol Hill as the deadline for the remaining six appropriations bills is this Friday. Stay informed on our tracked national legislation here; make sure to filter by the term “federal.” You can find this week’s hearings to tune into below:

• Wednesday March 20 at 10:00am ET the House Small Business Committee’s hearing to provide oversight of the SBA;
• Wednesday March 20 at 2pm ET, the House Financial Services subcommittee hearing to discuss characteristics and challenges of today’s homebuyers;
• Wednesday March 20 at 2:30pm ET the Senate Small Business Committee’s hearing to review President Biden’s fiscal year 2025 budget proposal and provide oversight over the Small Business Administration (SBA);
• Thursday March 21 at 10:00am ET the House Financial Services Committee’s hearing to examine the dangers of ceding authority over American financial regulation; and 
• Thursday March 21 at 10:00am ET the Senate Finance Committee’s hearing to review Biden’s fiscal year 2025 budget proposal. Top of Form

 
South Dakota Legislative Update
We are one week away from Veto Day, so I figured now would be a great time to provide a little history into the structure of the South Dakota legislative days. The South Dakota Legislature is established by Article III of the Constitution of South Dakota as a bicameral legislative body. Legislative sessions can run for up to 40 days every year, depending on the calendar set by the legislature. This year’s session will come to a total of 38 legislative days.
 
Last but certainly not least, I wanted to provide a list of advocacy dates to save on your calendars!
 
May:

• May 14th - Stack the PAC social in Larchwood, IA at Grand Falls Casino, just outside of Sioux Falls.

July:

• July 18th - Par for the PAC SD CU Advocacy Golf Classic in Lead/Deadwood at Lead Country Club

September:

• September 9th -12th - Fall Hike the Hill in Washington, DC
• September 19th – Pints & Politics event in Webster at The Gallery Bar and Grill 

October:

• October 3rd – Pints & Politics Event in Rapid City, location TBD
• October 9th - Pints & Politics Event Pierre, luncheon at Oahe Federal Credit Union 
• October 15th - Pints & Politics Event in Huron, location TBD
• October 16 - Pints & Politics Event in Yankton at Ben’s Brewing Co.
• October 17th - Pints & Politics Event in Sioux Falls at JJ's Bar

 
Outside of these dates, you are welcome to schedule an advocacy presentation or payroll deduction training with me for your credit union! Simply email me and we will schedule a time.