Regulatory & Legislative Update

​Save the dates for these upcoming Pints & Politics events and help strengthen the voice of credit unions! Plus, CFPB issues small business lending guide. 

John Alexander

by John Alexander, Director of Legislative & Regulatory Affairs

It’s that time of year again! The Dakota Credit Union Association’s “Pints & Politics/Chapter President's Night” is back for 2024, bringing credit union leaders, employees, and volunteer board members face-to-face with state and federal lawmakers. This isn’t just a casual get-together; it’s a crucial part of our legislative awareness program, designed to strengthen the voice of credit unions in the political arena.

This year, the North Dakota events will be held at these locations:

• Rugby Luncheon: September 17 – Rugby Country Club, 12:00 p.m.
• Minot Chapter Event: September 17 – ND State Fairgrounds, 6:00 p.m.
• Bismarck Luncheon: September 26 – Elks Lodge Bismarck, 12:00 p.m.
• Devils Lake Evening: September 26 – Neathery-Simenson VFW Post, 5:30 p.m.
• Williston Luncheon: October 1 – Western Coop CU, 12:00 p.m.
• Dickinson Event: October 1 – Blue42 Dickinson, 6:00 p.m. (Mountain Time)
• Fargo Event: October 8 – Fargo Brewing Company, 5:30 p.m.
• Grand Forks Event: October 10 – Spud Jr, 6:00 p.m.
• Jamestown Event: October 22 – Baymont Inn, 6:00 p.m.

Note: If you are looking for the South Dakota events, click here.
All Pints & Politics events are also posted on our website here.

This year, we’re using Green Envelope, a digital invite service, to send out your invitations. I got a call just the other day from someone who thought the invite was spam – but I can assure you, it’s definitely not! So, please check your mailboxes, as I wouldn’t want you to miss out on this important opportunity to connect, engage, and help shape the future of credit unions.
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If you have any questions or need to reserve a spot, don’t hesitate to contact me or Paige Langhoff. We’re here to help make sure your chapter is involved in this exciting and vital endeavor. Grab a pint, join the conversation, and be part of the movement!
 
CFPB Releases 2025 Small Business Lending Filing Instructions Guide 
The CFPB has officially released its 2025 Small Business Lending Filing Instructions Guide, following a court decision that led to an extension of the compliance dates for the small business lending rule. This latest guide aligns with the updated schedule, ensuring that businesses stay on track with the newly established timelines.

Initially, an interim final rule issued in June granted extensions to these compliance dates. Now, the guide incorporates several key changes for 2025, including:

• Updating references from 2024 to 2025 across the document.
• Adjusting the filing period for Tier 1 compliance to now span July 18, 2025, through December 31, 2025.
• Modifying the "Action Taken Date" and "Application Date" examples to match the new 2025 timelines.
• Revising the validation ID E0321 to align with the updated filing period under the new compliance framework.

In addition to the filing instructions guide, the CFPB has also refreshed other resources to reflect these extended deadlines, helping small businesses navigate the updated requirements.
 
 As always, if you have any advocacy or legislative questions or concerns, feel free to contact me. 

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