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Week of May 21, 2018

  • This week, both the U.S. House of Representatives and U.S. Senate are in session for legislative business. While the Senate is not expected to consider student financial aid-related legislation, on Tuesday, the House is expected to consider S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, which would amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to relax certain rules enacted after the 2007 financial crisis. The bill prohibits private education loan contracts from including auto-default provisions; allows borrowers to rehabilitate their private education loans; and authorizes the Financial Education Literacy Commission to issue best practices to institutions of higher education on financial literacy. 

  •  Today through Wednesday, all day, the Financial Industry Regulatory Authority (FINRA) holds its Annual Conference, which provides the opportunity for practitioners, peers, and regulators to exchange ideas on a variety of sessions related to current trends in technology, cybersecurity, risk management and much more. Speakers include Municipal Securities Rulemaking Board General Counsel Michael Post; and U.S. Securities and Exchange Commission Chairman Jay Clayton. For details and to register, visit the event website.

  •  Today, New America hosted a half-day seminar titled, “Varying Degrees: How America Perceives Higher Education in 2018.” New America shared the results of its second survey and discussed the implications of these findings for students, institutional leaders, and policymakers. Participants included: Ernest Ezeugo, Program Associate, New America; Rute Assefa, Undergraduate Student, Washington College; Orkhan Patsiyev, Apprentice, Siemens Charlotte; Ariel Ventura-Lazo, Undergraduate Student, George Mason University; Rachel Fishman, Deputy Director for Higher Education Research, New America; Joe Garcia, President, Western Interstate Commission for Higher Education; Jee Hang Lee, Vice President for Public Policy and External Relations, Association of Community College Trustees; Kevin Carey, Vice President, Education Policy and Knowledge Management, New America; Eric Waldo, Executive Director, Michelle Obama’s Reach Higher Initiative; and Tamara Hiler, Deputy Director of Education, Third Way. For details on the event, visit the New America website.

  • Tuesday through Thursday, all day, the U.S. Department of Education's National Advisory Committee on Institutional Quality and Integrity meets to review accreditation processes and receive compliance updates from various institutions. The current agenda includes a discussion on the oversight of proprietary institutions and their conversations to nonprofit entities. For details, download the agenda.

  • Tuesday is the deadline to submit public comments on the U.S. Department of Education’s request for information titled, “Evaluating Undue Hardship Claims in Adversary Actions Seeking Student Loan Discharge Bankruptcy Proceedings.”  

  •  On Tuesday 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.” The sole witnesses will be The Honorable Betsy DeVos, Secretary, U.S. Department of Education. The hearing will be livestreamed from the committee’s website.

  • On Tuesday at 10:00 a.m., the Senate Appropriations Subcommittee on Financial Services and General Government holds a hearing to review the fiscal year 2019 budget proposal for the U.S. Department of Treasury. Witnesses include: The Honorable Steven Mnuchin, Secretary, U.S. Department of Treasury; and The Honorable David Kautter, Acting Commissioner, Internal Revenue Service.

  • On Tuesday at 10:30 a.m., The Heritage Foundation hosts a panel discussion titled, “The Federal Reserve’s New Capital Rules Proposal.” Panelists will debate the proposal and address possible improvements to the Fed’s regulatory capital framework. Participants include: Thomas Hogan, Fellow, Center for Public Finance, Baker Institute for Public Policy, Rice University; Dr. Norbert Michel, Director, Center for Data Analysis; Diego Zuluaga, Policy Analyst, Center for Monetary and Financial Alternatives, Cato Institute; and Alex Pollock, Distinguished Senior Fellow, Financial Markets, R Street. For details and to register, visit the event website.

  • On Tuesday at 2:00 p.m., Federal Student Aid hosts a free webinar titled, “Managing your Student Loans; Tip for Recent College Grads.” The webinar will discuss some factors for borrowers to consider in managing their finances after graduating from college. For details and to register, visit the event website.

  • Wednesday is the final deadline for members to take advantage of the discounted hotel reservation rate for NCHER’s Annual Conference. In order to receive the $225 room rate, be sure to mention NCHER when you call the Mills House Wyndham Grand Hotel in Charleston, SC at (843) 577-2400. You can also reserve your room online.

  • On Wednesday at 10:00 a.m., the House Ways and Means Subcommittee on Tax Policy holds a hearing titled, “Tax Reform and Small Businesses: Growing Our Economy and Creating Jobs.” Witnesses will be announced at a later date.

  • On Wednesday at 10:30 a.m., the Senate Budget Committee holds a hearing entitled, “Government Accountability Office’s (GAO) Report to Reduce Federal Duplication and Overlap.” The sole witness will be The Honorable Gene Dodaro, Comptroller General, GAO. The hearing will be livestreamed from the committee’s website.

  • On Wednesday at 2:00 p.m., the Federal Reserve’s Federal Open Markets Committee (FOMC) releases the minutes of its two-day meeting held on May 1-2, 2018.

  • On Thursday at 10:00 a.m., the Senate Banking, Housing, and Urban Affairs Committee holds a hearing entitled, “Cybersecurity: Risks to the Financial Services Industry and Its Preparedness.” Witnesses include: Bill Nelson, President and Chief Executive Officer, FS-ISAC; J. Michael Daniel, President and Chief Executive Officer, Cyber Threat Alliance; Phil Venables, Managing Director and Head of Operational Risk Management and Analysis, Goldman Sachs; Carl Kessler III, Senior Vice President and Chief Information Officer, First Mutual Holding Company; and Bob Sydow, Principal, Americas Cyber Leader, Ernst & Young LLP. The hearing will be livestreamed from the committee’s website.

  • On Thursday at 10:00 a.m., the Joint Select Committee on Budget and Appropriations Process Reform holds its third public hearing to examine the current purpose of the budget resolution and consider possible options to bolster the resolution’s impact and influence on the Congressional budget and appropriations processes. Witnesses include: Maya MacGuineas, President, Committee for a Responsible Federal Budget; James Capretta, Resident Fellow and Milton Friedman Chair, American Enterprise Institute; Bill Dauster, Former Democratic Staff Director and Chief Counsel, Senate Budget Committee; and Joseph White, Professor, Department of Political Science and Center for Policy Studies, Case Western Reserve University.

  •  On Thursday at 1:00 p.m., BillingTree hosts a webinar on the results of its 6th Annual Accounts Receivable Management (ARM) Industry Study. Participants will learn how the Consumer Financial Protection Bureau might soon impact the ARM industry landscape; What it takes to secure data within an organization’s system; How PCI helps protect agencies from litigation; Steps to improve an agency’s operations; and Key findings and trends from the 2018 ARM Industry Survey results. For details and to register, visit the event website.

  • On Thursday at 2:00 p.m., the Congressional Budget Office (CBO) releases its analysis of the President’s fiscal year 2019 budget request sent to Congress. CBO works with the staff of the Joint Committee on Taxation each year to estimate the budgetary effects of the changes to spending programs and the tax code proposed in the President’s budget. The report will be available on CBO’s website.

  • On Friday at 10:00 a.m., President Donald Trump provides the keynote address at the graduation of the U.S. Naval Academy in Annapolis, MD.

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