Legislative Update with Kenley

Government shutdown impacts; NCUA budget updates; and China’s soybean trade deal.

By Kenley Lamberty, DakCU Director of Political Strategy and Engagement

Government Shutdown Update
As the government shutdown continues, credit unions remain committed to supporting their members through both prosperous and challenging times. With federal employees, congressional staff, and countless others missing paychecks, and SNAP benefits having lapsed, the financial strain on vulnerable households is intensifying. These disruptions underscore the urgent need for Congress to pass a continuing resolution and restore essential services.

Government Shutdown Assistance Resources
 
The National Credit Union Administration (NCUA) will hold its public budget hearing on Nov. 5, where it is expected to propose a 20.6% budget cut for 2026.
The reduction includes significant decreases in staffing, contracted services, and travel expenses. Credit union advocates are preparing to present comments urging transparency and clarity around the agency’s reorganization plan and operational priorities.

Meanwhile, legal uncertainty continues to surround the agency. Two Democratic board members, Todd Harper and Tanya Otsuka, who were ousted by the Trump administration, are challenging their removals in court. A stay issued by the U.S. Court of Appeals temporarily removed them from the board, leaving Chairman Kyle Hauptman as the sole member. The Supreme Court has been asked to expedite review of the case, which could have broad implications for the independence of financial regulators.

Public Hearing on NCUA’s Proposed 2026–2027 Budget | NCUA
 
China’s Soybean Buy Offers Temporary Relief to U.S. Farmers Amid Trade Uncertainty
China’s commitment to purchase 12 million metric tons of U.S. soybeans this season has brought a measure of relief to American farmers grappling with falling prices and export disruptions. The deal, part of a broader trade agreement between President Donald Trump and Chinese President Xi Jinping, includes a pledge for 25 million tons annually over the next three years. While the announcement has lifted market optimism and soybean futures, agricultural leaders caution that the relief may be short-lived unless both nations follow through consistently and global demand stabilizes.
 
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