Partial Shutdown Ends—Funding Restored to Community Development Financial Institutions for 2026
On Tuesday, President Trump signed a $1.2 trillion funding package into law ending a brief partial government shutdown that began early Saturday morning.
The House voted 217-215, with support from 21 Democrats, following Senate passage last week.
The bill provides funding for 95% of the federal government’s operations through September, the full $324 million has been allocated for the Community Development Financial Institutions fund for 2026.
Tennessee Legislative Session Update
Governor Lee’s final State of State address to the General Assembly Monday night coincided with a delayed bill filing deadline after one of the worst winter storms to move through Middle Tennessee shut down the legislature for a week early on in the second session of this term. With Tennessee facing a revenue shortfall for the first time in recent memory, major new initiatives requiring budget support were lacking, beyond an expansion of the already existing voucher program.
Read the key highlights or watch the State of the State address that highlighted the 250th Anniversary of the United States and Tennessee being the original frontier.
New Bills Introduced
On the credit union front, we’re still examining the 690 bills that were introduced this week, in addition to the 500 or so that we already known before the storm delay. From the administration’s bill to allow state-chartered credit unions to use private deposit insurance and increased flexibility in exam cycle length, to introducing regulations around crypto ATMs to prevent financial fraud, your association will be there examining potential impacts, asking questions and working to advance the ball for credit unions and your members alike this year.
Mississippi Legislative Session Update
The Mississippi primaries are about a month from now on Tuesday, March 10. The mail registration voter applications must be post-marked no later than Monday, Feb. 9. For more information, please visit YallVote.ms.
The Mississippi Legislature has now been in session for just over a month, and this week marked a major procedural milestone. Tuesday was the critical deadline for committees to report general bills. Measures that failed to move out of committee are now effectively dead for the session.
Bills Still Advancing
A couple of key bills we’ve been closely working on successfully cleared committee:
HB 1477 & SB 2714 – Abandoned Safe Deposit Box Procedures
Both bills create detailed procedures governing how credit unions must manage abandoned safe deposit boxes, including:
- Required notice to box holders
- Mandatory inventory and documentation
- Reporting requirements to the State Treasurer
- Delivery of contents when deemed abandoned
The Senate version was amended to require notices to be sent via registered mail and also added a reverse repealer to ensure additional negotiation and refinement before final passage.
Notable Bills Not Advancing This Session
Several bills of interest did not make it out of committee by the deadline and are now considered dead for the session. These include HB 1237, SB 2139, and HB 994, the latter of which included broad financial literacy provisions.
HB 1237 and SB 2139 (Mississippi Guaranteeing Fair Banking Act) were essentially “de-banking” bills that prohibit financial institutions from discriminating against individuals or entities in providing financial services on the basis of religion, speech, or lawful economic activity.
HB 994 (Financial Literacy Curriculum Requirements) would have required a personal finance course for high school graduation, effective for the class of 2031. It would also have created a Financial Literacy Trust Fund to support financial literacy education. The bill sought to significantly expand financial literacy instruction across Mississippi public and charter schools.
Looking Ahead
With the committee deadline now passed, the remaining active bills—including HB 1477 and SB 2714—move to floor debate. We will continue monitoring developments closely.
