This week in legislation...

 

Week of July 25

·       This week, both the U.S. House and U.S. Senate are in recess. Lawmakers will return to legislative business on Tuesday, September 6 after the completion of the extended Congressional recess and the Republican and Democratic National Conventions.

 

·       Monday at 1:00 p.m., the Council for Economic Education holds a discussion titled, “Financial Literacy: Is Your State Part of the Problem or the Solution?” in Philadelphia, PA. Participants include: Erin Arvedlund, Personal Finance Writer, Philadelphia Inquirer; Gene Barr, President and Chief Executive Officer, Pennsylvania Chamber of Business and Industry; Charles Deal, Business Education Teacher, Neshaminy School District; Barry Haimes, Managing Partner, Sage Asset Management; Bonnie Meszaros, Associate Director, University of Delaware Center for Economic Education and Entrepreneurship; Carly Urban, Assistant Professor of Economics, Montana State University; and Nan Morrison, President and Chief Executive Officer, Council for Economic Education.

 

·       Monday at 2:00 p.m., the College Promise Campaign hosts a screening of No Greater Odds, which tells the story of students at the College of Southern Nevada whose lives have been changed by access to a quality community college education, at the Democratic National Convention in Philadelphia, PA. The screening will be followed by a panel discussion on access to free community college.

 

·       On Thursday at 11:00 a.m. PDT, the Consumer Financial Protection Bureau (CFPB) holds a field hearing on debt collection in Sacramento, CA. The hearing will feature remarks from CFPB Director Richard Cordray, and testimony from consumer groups, industry representatives, and members of the public. NCHER expects the field hearing to coincide with the Bureau’s release of an outline of its proposals regarding debt collection, in preparation for a small business review panel required under the Small Business Regulatory Enforcement Fairness Act (SBREFA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bureau has convened SBREFA panels for its recent mortgage loan, arbitration, and payday loan rulemakings, and is expected to be a precursor to the release of the proposed regulation on debt collection. In November 2013, the CFPB issued an Advanced Notice of Proposed Rulemaking concerning debt collection. In its recent Spring 2016 Agenda, the Bureau stated, “it is in the process of analyzing responses to a survey seeking information from consumers about their experiences with debt collectors and is engaged in qualitative testing to determine what information would be useful for consumers to have about debt collection and how that information should be provided to them.” The Bureau is expected to discuss these results during Thursday’s field hearing.

 

This information is shared by SASFAA's Legislative Affairs' Committee and NCHER.