Legislative Update - Week of 02/22

Shared by SASFAA Legislative Relations Committee and NCHER.

Week of February 22

·       This week, both the U.S. House and U.S. Senate are in session for legislative business. However, neither chamber is expected to consider student financial aid-related legislation.

·       02/22 - 9:00 a.m., the U.S. Chamber of Commerce held an event titled, “Reviving the American Dream: Using Career Development to Prepare All Young Adults for Career Success.” Participants included: The Honorable John Engler, President, Business Roundtable; Alma Powell, Chair, America’s Promise Alliance; Cheryl Oldham, Vice President, Center for Education and Workforce, U.S. Chamber of Commerce Foundation; William Symonds, Director, Global Pathways Institute; Chip Blankenship, Chief Executive Officer, GE Appliances; Chauncy Lennon, Head of Workforce Initiatives and Managing Director, Global Philanthropy, JP Morgan Chase Foundation; and Tony Evers, State Superintendent of Public Instruction; State of Wisconsin.

·       On Tuesday starting at 8:30 a.m., the National Association of Counties holds its 2016 Legislative Conference. Speakers include: Acting Secretary John King, Jr. and Senate Majority Leader Mitch McConnell (R-KY).

·       On Tuesday at 12:00 p.m., MeasureOne hosts a webinar titled, “Private Student Loan Market Trends and Insights.” During the webinar, MeasureOne will discuss its Private Student Loan Report for the 3^rd quarter of 2015, changing trends in student demographics and the impact on gap funding markets, and insights into the discussions on Capitol Hill regarding potential changes in student lending and education costs. To register for the webinar, click here.

·       On Tuesday at 12:00 p.m., the Center for American Progress holds an event titled, “Financial Services, Consumer Protection, and Mobility: The Next Five Years.” During the event, participants will discuss recent developments in the consumer financial marketplace, the financial challenges communities continue to face, and the steps regulators and policymakers should take over the next five years to ensure better outcomes for consumers. Participants on the first panel regarding Financial Services and Mobility Before and After the Crisis: Jim Carr, Senior Fellow, Roosevelt Institute; and Mike Calhoun, President, Center for Responsible Lending. Participants on the second panel regarding Protecting Consumers and Expanding Opportunity Over the Next Five Years: Lisa Donner, Executive Director, Americans for Financial Reform; David Haber, Co-Founder and Chief Executive Officer, Bond Street; Helaine Olen, Financial Journalist and Co-Author, The Index Card: Why Personal Finance Doesn’t Have to be Complicated; Rob Randhava, Senior Counsel, Leadership Conference on Civil and Human Rights; and Eric Rodriquez, Vice President, National Council of La Raza.

·       On Tuesday at 3:00 p.m., the House Appropriations Subcommittee on Financial Services and General Government holds a budget hearing with The Honorable Shaun Donovan, Director, Office of Management and Budget.

·       On Wednesday at 10:00 a.m., the House Education and the Workforce Committee holds a hearing entitled, “Examining the Policies and Priorities of the U.S. Department of Education,” which will address the Department’s budget request for fiscal year 2017. The sole witness will be Dr. John King, Jr. Acting Secretary, U.S. Department of Education. The hearing will be broadcast live on the Committee’s website.

·       On Wednesday at 10:00 a.m., the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises holds a hearing titled, “The Impact of the Dodd-Frank Act and Basel III on the Fixed Income Market and Securitizations.” Witnesses include: Anthony Carfang, Partner and Director, Treasury Strategies; Meredith Coffey, Executive Vice President, Loan Syndications and Trading Association; Andrew Green, Managing Director, Economic Policy, Center for American Progress; Richard Johns, Executive Director, Structured Finance Industry Group; Jeffrey Punkett, Executive Vice President and General Counsel, Natixis Global Asset Management; Stephen Renna, President and Chief Executive Officer, Commercial Real Estate Finance Council; and Dr. Marcus Stanley, Policy Director, Americans for Financial Reform.

·       On Thursday from 8:45 a.m. to 12:20 p.m., the Urban Institute and the Brookings Institution host a discussion titled, “Tax Policy in 2016: What’s New and What’s Next.” During the event, participants will discuss how tax policy will shape up as the year progresses, what role tax policy will play in the election, and is Congress situated for a major reform in 2017. Keynote speakers include: The Honorable Kevin Brady, Chairman, House Ways and Means Committee; and The Honorable Ron Wyden, Ranking Member, Senate Finance Committee. Participants include: Jared Bernstein, Senior Fellow, Center on Budget and Policy Priorities; Heather Boushey, Executive Director and Chief Economist, Washington Center for Equitable Growth; Alex Brill, Resident Fellow, American Enterprise Institute; G. William Hoagland, Senior Vice President, Bipartisan Policy Center; Catherine Rampell, Opinion Columnist, The Washington Post; Jeanne Sahadi, Senior Writer, CNNMoney; and Bernie Becker, Tax Reporter, Politico.

·       On Thursday from 10:30 a.m. to 3:30 p.m., the Consumer Financial Protection Bureau (CFPB) holds a public meeting of its Consumer Advisory Board, which is a group of experts charged with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants. The meeting’s agenda includes a welcome by CFPB Director Richard Cordray, a CFPB Strategic Outlook, and a session on Measuring Financial Well-Being.

·       On Thursday at 2:00 p.m., the Senate Health, Education, Labor, and Pensions Committee holds a hearing on the nomination of John King, Jr. as the new Secretary of Education. The hearing will be broadcast live on the Committee’s website.

·       Friday is the deadline to submit nominations for those interested in serving as NCHER’s Chair-Elect, as Treasurer, or on the Board of Directors. If you would like to be considered for election or know someone who would be a great addition to the Board, email or call Jimmy Parker (Panhandle-Plains Higher Education Authority), Terry Muilenburg (USA Funds), Will Shaffner (Missouri Higher Education Loan Authority), and/or Gene Hutchins (New Jersey Higher Education Student Assistance Authority). Contact information for each of the Past-Chairs can be found on NCHER’s website.

·       On Friday, all-day, NCHER holds its Winter Legal Meeting at the Hotel Monaco in Washington, DC. The agenda includes a Washington Update; a CFPB Update by Patricia Scherschel, Student Loan Program Manager, Division of Research, Markets, and Regulations, CFPB; and sessions on the U.S. Department of Education’s negotiated rulemaking on borrower defenses to repayment, the Federal Communication Commission’s rulemaking on calling federal debtors on their cell phones, new developments on data privacy, and pending litigation affecting guaranty agencies. For more information, click here.

·       On Friday, all-day, the University of Chicago Booth School of Business hosts the 2016 U.S. Monetary Policy Forum, an annual conference that brings together academics, market economists, and policymakers. During the conference, Federal Reserve Board of Governors Member Jerome Powell delivers a speech on the Fed’s communications policy.