This Week in Legislation - Weeks of May 30 and June 5, 2017

Week of May 30, 2017

 

·         This week, both the U.S. House and U.S. Senate are in recess for the Memorial Day holiday. Federal lawmakers will return to Washington, DC for legislative business on Monday, June 5, 2017.

·         On Wednesday at 2:00 p.m., the Federal Reserve releases its Beige Book. Eight times a year, the Fed releases its Beige Book, a summary of current economic conditions for the 12 Federal Reserve Districts based on anecdotal information gathered through reports from Bank and Branch Directors and interviews with key business contacts, economists, market experts, and other sources.

·         On Thursday at 8:00 a.m., Federal Reserve Board of Governors Member Jerome Powell gives a speech titled, “Thoughts on the Normalization of Monetary Policy” at the Breakfast Meeting of The Economic Club of New York in New York.

·         On Thursday starting at 9:30 a.m., Strada Education Network and Gallup release the results of their Education Consumer Pulse, a three year study of U.S. adults about their perspectives and experiences with postsecondary education. During the event, attendees will hear opening remarks by Bill Hansen, President and Chief Executive Officer, Strada Education Network; learn about the reports’ findings from Brandon Busteed, Executive Director, Education and Workforce Development, Gallup; and hear reaction from a panel of experts, including: Carol D’Amico, Executive Vice President, Strada Education Network; Les Lenkowsky, Special Counselor to the Dean, Lilly Family School of Philanthropy; Teresa Lubbers, Commissioner, Indiana Commission for Higher Education; and Johnny Taylor, President and Chief Executive Officer, Thurgood Marshall College Fund.

 

·         On Thursday at 10:00 a.m., the American Enterprise Institute (AEI) hosts a panel discussion titled, “Is it Time to Reinstate the Glass-Steagall Act?” During the event, Richard Sylla, Professor Emeritus of Economics, New York University Stern School of Business, will provide remarks on the history of the Glass-Steagall Act. Other participants include: Martin Baily, Senior Fellow, The Brookings Institution; Oliver Ireland, Partner, Morrison and Foerster LLP; Paul Kupiec, Resident Scholar, AEI; Norbert Michel, Research Fellow, The Heritage Foundation; and moderator Alex Pollock, Distinguished Senior Fellow, R Street Institute.

 

Week of June 5, 2017

The NCHER Daily Briefing will be on a publishing break next Monday, June 5, through Wednesday, June 7, due to the 2017 Spring Convention. 

 

·         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.

 

·         On Tuesday and Wednesday, all day, insideARM hosts the third annual First Party Summit in Frisco, TX. This event is billed as the industry’s first-ever and only summit focused totally on the unique challenges of first party collections, outsourcing, and customer care. 

 

·         On Tuesday, all day, the CATO Institute hosts a half-day summit event titled, “Banking Unbound: The CATO Summit on Financial Regulation,” in Charlotte, NC. Participants include: Thaya Brook Knight, Associate Director, Financial Regulation Studies, Center for Monetary and Financial Alternatives, CATO Institute; Mark Calabria, Assistant to the Vice President and Chief Economist, CATO Institute; George Selgin, Director, Center for Monetary and Financial Alternatives, CATO Institute; Brian Knight, Senior Research Fellow, Mercatus Center at George Mason University; Emily Ekins, Research Fellow and Director of Polling, CATO Institute; and Kelly King, Chairman and Chief Executive Officer, BB&T Corporation.

·         On Tuesday at 9:30 a.m., the Brookings Institution’s Center on Regulation and Markets and Hutchins Center on Fiscal and Monetary Policy brings together four experts with differing views on preserving or modifying Orderly Liquidation Authority in a discussion titled, “Is Dodd-Frank’s Failure Resolution Regime Failing?” Participants include: Ben Bernanke, Distinguished Fellow in Residence, Brookings Institution; David Skeel, S. Samuel Arsht Professor Corporate Law, University of Pennsylvania Law School; Hester Peirce, Director, Financial Markets Working Group and Senior Research Fellow, Mercatus Center at George Mason University; Rodgin Cohen, Senior Chairman, Sullivan & Cromwell LLP; and moderator David Wessel, Director, The Hutchins Center on Fiscal and Monetary Policy.

·         On Wednesday at 3:00 p.m., the Federal Reserve releases its “Consumer Credit – G.19” report, which includes the amount of outstanding federal and private student loans.

·         On Thursday at 10:00 a.m., the Consumer Financial Protection Bureau (CFPB) holds a summer meeting of its Consumer Advisory Board with CFPB Director Richard Cordray to discuss credit visibility, credit products, trends and themes, and small business lending.

·         On Thursday at 12:00 p.m., the Federal Reserve releases its “Financial Accounts of the United States - Z.1” report, which examines the assets, liabilities, net worth, and consumer credit (including student loans) of households, nonprofit organizations, and nonfinancial corporate businesses. The Z.1 report is released four times a year, in March, June, September, and December.

 

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