Legislative Update with Chesney

Big wins in DC! Trigger leads legislation advances; “Don’t Tax My Credit Union” gains steam; and we’re on the road with South Dakota credit unions.

by Chesney Garnos, Executive Director of Government Affairs

Momentum Builds for Key Legislation
Legislation aimed at protecting homebuyers’ privacy is moving quickly through Congress. The Homebuyers Privacy Protection Act introduced as H.R. 2808 in the House and S. 1467 in the Senate would amend the Fair Credit Reporting Act to significantly restrict the use of trigger leads. This practice allows credit bureaus to sell a consumer’s information to third-party mortgage marketers after a credit inquiry, often resulting in a flood of unsolicited outreach which often causes distrust and privacy concerns amongst credit union members. This legislation if passed would help prevent that. Here’s where the legislation stands:

               •             June 12: The Senate passed its version, S. 1467, with unanimous bipartisan support.
               •             Mid-June: The House Financial Services Committee advanced H.R. 2808, showing strong momentum.
               •             June 23: The full House passed H.R. 2808 by unanimous consent.
 
With both chambers aligned on the core intent of the legislation, Congress must now reconcile a few minor differences between the two versions. Once a final version is agreed upon, it will return for a vote in both chambers before heading to the President’s desk for signature.

This bipartisan effort marks a major step forward in protecting consumer privacy and restoring trust.

Don’t Tax My Credit Union Updates
Last week, the Senate Finance Committee released its initial bill text; the final version is expected soon. Once the Senate parliamentarian completes the review, Senate Majority Leader John Thune will begin procedural steps to schedule a vote. Depending on support and timing, this could happen this week or next. Daily emails continue to be sent to Senate offices highlighting the positive impact credit unions have on communities and reinforcing the industry’s commitment to strong Main Streets nationwide. This week’s outreach included a CEO open letter (previously shared with the House), now with roughly 150 new signatures added.

​On the Road: Engaging with South Dakota Credit Unions
Last week, I visited with Minuteman FCU, Black Hills FCU, Northern Hills FCU, and Highmark FCU to discuss payroll deduction, advocacy updates including the “Don’t Tax My Credit Union” campaign, and most importantly, to listen to the unique needs of each credit union. These conversations are essential to ensuring our advocacy reflects the realities faced by credit unions across South Dakota. There is nothing I love more than serving each of our unique credit unions and their members!

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Upcoming: SD CU Advocacy Golf Classic – Par for the PAC
Thursday, July 10 • Garretson, SD
​Join credit union leaders and local legislators for a day of golf, food, live music, and networking—all supporting scholarships for credit union professionals attending key advocacy events.
 
Event Details:
River Ridge Golf Course – 25412 485th Ave, Garretson, SD 57030
9:00 a.m. – Registration
10:00 a.m. – Shotgun Start
2:00 p.m. – Social with live music, food, and drinks
2:30 p.m. – Golf Awards & Legislator Recognition
Register by July 3, 2025 
 
Hotel Block: Stay nearby at the Canopy by Hilton Sioux Falls Downtown. Call 605-275-4120 and mention Dakota Credit Union Group or book online here: DCU Group - Canopy by Hilton Sioux Falls Downtown

​For any questions about legislation, events, or advocacy priorities, don’t hesitate to reach out to me at [email protected]. ​