Member Login

THE MEMO

DAKOTA CREDIT UNION ASSOCIATION
  • Advocacy
    • Bill Tracking
    • Grassroots Action Center
    • Political Fundraising
  • Compliance
    • Compliance Resources
    • Compliance Solutions >
      • AffirmX
      • ComplySight
      • CU CMS
      • CU PolicyPro
      • InfoSight360
      • Jackson Lewis
      • PayLynxs
      • RecoveryPro
      • ViClarity
      • Training
    • The Memo: Compliance
  • Member Resources
    • DakCU Awards
    • Financial Well-Being for All
    • Professional Development >
      • Chapters
      • Emerging Leader Program
      • Sales CU Training
    • Strategic Partners >
      • CAP Program Directory
      • Compliance Solutions
      • Pee Wee and Friends®
    • Credit Union Awareness
  • News & Events
    • The Memo
    • Events Calendar
    • GAC
    • New Ideas
    • Par for the PAC
    • Sales CU Training
  • About Us
    • Board of Directors
    • Contact Us
    • DakCU Foundation >
      • Donor Wall
      • Foundation Golf Scramble
      • Memorials
      • Foundation Sweepstakes
    • DakCU Health Benefits Trust

Legislative Update with Jay Kruse

2/16/2023

 
Picture
​It’s time to take a deep breath as we approach crossover in both North and South Dakota. Follow along with bills we are tracking. 
Good morning! It’s that time in the legislative session to take a deep breath. Our North Dakota credit union Field of Membership (FOM) bill SB 2266 passed through the State Senate and will move on to the House following crossover on February 24th. In South Dakota, we have officially passed the halfway point of the session, with crossover just three legislative days away.  

Remember, you can follow along with all the bills we are tracking in both states here: dakcu.org/bill-tracking
We have been talking a lot about our North Dakota FOM legislation lately, so I wanted to update you all on a couple bills we have been tracking and talking with legislators about in South Dakota:

HB 1193: An Act to amend provisions of the Uniform Commercial Code (UCC).
This bill is sponsored by Representative Mike Stevens and Senator David Wheeler. As the title states, the bill amends the UCC providing updated rules for commercial transactions involving emerging technologies such as virtual currencies, distributed ledger technologies including blockchain, as well as adds a new article addressing certain types of digital assets. These amendments provide new default rules to govern transactions involving these new technologies. We are supportive of these efforts to make these much needed updates to our dated UCC.

This bill passed through the House Judiciary Committee 7-4 and the full House 49-17. It has been referred to the Senate Commerce and Energy Committee where it is currently awaiting a hearing date.

SD 208: An Act to require financial institutions to report exploitation of an elder or an adult with a disability.
This bill would have amended current code to require credit unions and other financial institutions who voluntarily or mandatorily report via a suspicious activity report (SAR), to also report the information contained in the SAR to the attorney general (AG).

Per FinCEN –Federal, State and Local law enforcement agencies can access the Bank Secrecy Act data, including SARS, through a secure web connection after their agency has entered into a Memorandum of Understanding with FinCEN. FinCEN provides training, and monitors use to ensure that the BSA information is properly used, disseminated, and kept secure. In short, the AG already has access to the SAR information this bill targets. The bills sponsor, Senator David Wheeler, has tabled the bill in committee this morning, effectively killing the bill, after hearing input from all sides. We appreciate Sen. Wheeler for starting the conversation, and we look forward to working with law enforcement on some educational opportunities in the future.

Don't hesitate to contact Jay Kruse with any advocacy questions or concerns.  

Comments are closed.

    The Memo

    The Memo is DakCU's newsletter that keeps
    ​credit union professionals updated on current news and information. ​

    Memo Home

    Want the Memo delivered straight to your inbox?
    Sign Up Now


    Archives

    July 2025
    June 2025
    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021


    Categories

    All
    Action Alert
    Advocacy
    Awards
    Awareness Campaign
    Compliance
    CUPAC/CULAC
    Dakota CUs Give Back
    Events
    Financial Well Being
    Foundation
    Fraud Alert
    Grants
    In The Spotlight
    Marketing Tips
    Member Solutions
    Miscellaneous
    ND Legislative Update
    News And Notes
    President's Perspective
    Press Releases
    SD Legislative Update
    Webinars

Copyright Dakota Credit Union Association.  All Rights Reserved.
2005 N Kavaney Dr - Suite 201 | Bismarck, North Dakota 58501
Phone: 
800-279-6328 | [email protected] | sitemap | privacy policy
Picture
Picture
Picture
Picture
  • Advocacy
    • Bill Tracking
    • Grassroots Action Center
    • Political Fundraising
  • Compliance
    • Compliance Resources
    • Compliance Solutions >
      • AffirmX
      • ComplySight
      • CU CMS
      • CU PolicyPro
      • InfoSight360
      • Jackson Lewis
      • PayLynxs
      • RecoveryPro
      • ViClarity
      • Training
    • The Memo: Compliance
  • Member Resources
    • DakCU Awards
    • Financial Well-Being for All
    • Professional Development >
      • Chapters
      • Emerging Leader Program
      • Sales CU Training
    • Strategic Partners >
      • CAP Program Directory
      • Compliance Solutions
      • Pee Wee and Friends®
    • Credit Union Awareness
  • News & Events
    • The Memo
    • Events Calendar
    • GAC
    • New Ideas
    • Par for the PAC
    • Sales CU Training
  • About Us
    • Board of Directors
    • Contact Us
    • DakCU Foundation >
      • Donor Wall
      • Foundation Golf Scramble
      • Memorials
      • Foundation Sweepstakes
    • DakCU Health Benefits Trust