The South Dakota Bankers Association has been focused on getting federal laws changed to bring credit unions and the Farm Credit System under the same type of regulation and taxing laws they deal with. So far that effort has not gained much traction.

Bankers Association President Curt Everson says they know Congress is not eager to pick up that type of legislation in an election year…

 

Everson says they think that banking regulations need to change to reflect changes in operations and uses…

 

The Bankers Association led an organized effort to meet with local governments across the state. Everson says they will continue that process, but on a one to one basis…

 

Many members of Congress are cool to the idea of changing those regulations because they could be seen as a tax increase.