Legislative Update with Chesney

​SD Legislative Session begins on January 9 – plan now to join us for CU Day at the Capitol! Plus, the entire Thanksgiving Dinner for Congress. 

by Chesney Garnos, Director of Political & Grassroots Affairs

South Dakota Legislative Session
Before we know it, 2024 will be here! While many people might guess that I love the transition because of classical traditions like New Year’s resolutions and goal setting, I actually love the beginning of the new year for two main reasons. #1: Basketball season is starting to really get into the swing of things, and of course, #2: the South Dakota Legislative Session is about to begin. To me, there is nothing that beats a full gym cheering for your home team or a full chamber during the State of the State address. The 2024 South Dakota Legislative Session will kick off on January 9th, 2024.

Also, if you haven't already, please mark your calendars for our South Dakota Legislative Day in Pierre on Wednesday, January 24th. We're thrilled to introduce some exciting additions to this year's schedule, which includes a guided tour of the South Dakota Capitol Building led by Marshall Damgaard, a former Bill Janklow Legislative Aide and Historian. Additionally, a former Senate Majority Whip will deliver a presentation on political relationship building at the Ramkota before our social gathering. The day promises a blend of advocacy and enjoyment, so don't forget to register HERE!

Holiday Sweepstakes
Our electronic payment system, essential for our CUPAC/CULAC sweepstakes, is back up and running after being inoperable for more than a week. Due to this technological issue, we have extended the deadline to enter the sweepstakes to 5 p.m. on December 8th. Our DakCU team will conduct the drawing for winners on December 11th. Remember - only members of credit unions that have signed permission agreements with CUNA/DAKCU for the current year are eligible to participate. May the sweepstakes odds be ever in your favor! 

In Congress
Weighing in on Committee Hearings
Last week, I had the opportunity to draft questions that our advocacy team reviewed for Senator Rounds' office regarding NCUA Board Chairman Todd Harper. Additionally, CUNA and NAFCU weighed in on the hearings held last week by sending two joint letters to Congressional committees. The letters covered various topics, including NCUA's budget, the Federal Reserve's Reg II rulemaking, and changes related to the NCUSIF. Top of Form
 
Motivated by Turkey Dinner
Before the Thanksgiving break, motivated by the upcoming holiday and a traditional turkey dinner, U.S. lawmakers expedited the passing of a continuing resolution (H.R. 6336). This resolution, passed in Congress and signed by President Biden, ensures federal government funding at fiscal year 2023 levels into the next year. The resolution, recognized as a "clean" CR, avoids controversial legislative policy riders and significant spending cuts. It allocates funding for certain agencies until January 19, including Agriculture, Military Construction and Veterans Affairs, Transportation, Housing and Urban Development, and Energy and Water, while the remaining agencies are funded until February 2. This approach, crafted by the new House Speaker, aims to deter the usual year-end omnibus spending packages. Additionally, the resolution extends the National Flood Insurance Program's authorization until February 2.

Interchange…Basically Your Dreaded Green Bean Casserole Dish
During a Financial Services Committee hearing this week, U.S. Representative Blaine Luetkemeyer (R-Mo.) expressed concerns about the Big Box interchange bill. He emphasized that reductions in debit card interchange fees failed to translate into savings for consumers.

Members of Congress are not the only ones weighing in on the topic of interchange. On November 8th, a luncheon panel was held at CardCon in Nashville, Tennessee. There, a Tennessee credit union leader shared his perspective on the negative impacts of the interchange bill in Congress for the event.

Congress to Return to DC Full of Stuffing
The House of Representatives and the Senate are currently on recess, as lawmakers have returned to their home districts for the Thanksgiving holiday week. Session will reconvene on November 27th in the Senate and November 28th in the House.

As the House of Representatives and the Senate take a break to “gobble up” the joys of the Thanksgiving holiday, I hope that you have the opportunity to do the same! Wishing you a “turkey-rific” time filled with gratitude and surrounded by the people you love.
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As always, if you have any questions or would like to connect, send me an email at [email protected].

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