Tuesday, December 6

Who’s on First?: Understanding Financial Regulation and Supervision
With all the makings of a Abbott and Costello routine, America’s unique system of decentralized regulation plays a vital role in promoting U.S. financial markets as the strongest and most dynamic in the world. This session introduces federal and state regulators, outlines regulatory structures and key functions, and explores how the many varied and moving parts work in tandem to regulate and supervise all elements of the financial marketplace.
Presiding:  Senator Ruth Teichman, Kansas
Speaker:  Dwight R. Larsen, AM, V.P. Bank Value Advisory Services, United Bankers Bank

Handouts:
Understanding Financial Regulation PowerPoint

Consumer and Commercial Lending: Fueling the American Economy
From the sophisticated world of high finance to everyday financial transactions, the free flow of credit underwrites the modern economy. But consumer and commercial lending also have evolved with the economic engine it fuels. Today, financial institutions of widely different shapes and sizes offer a vast array of lending products and services that distribute capital across the economy to meet the diverse needs of consumers and businesses. This session surveys consumer and commercial lending.
Presiding:  Senator Ruth Teichman, Kansas
Speaker:  Richard Beck, Senior Vice President and Corporate Sales Manager, STAR Financial Bank

Handouts:
Consumer & Commercial Lending PowerPoint

Wednesday, December 7

Breakfast Plenary 
Speaker:  Randall Kroszner, Professor of Economics, School of Business, University of Chicago

Rountable Discussion 

Concurrent Sessions:

The Financial Services Marketplace: A Primer
The financial services marketplace is changing rapidly. Once community banks and local insurers have become part of global financial services firms now driven by the forces of the modern economy. How does it work? Who’s in charge? How do your local institutions fit in? This session introduces the modern financial services marketplace and offers a prerequisite understanding for state lawmakers charged with crafting policy that governs this intricate and puzzling world.
Speaker:  John A. Tatom, Director of Research, Networks Financial Institute, Associate Professor, Indiana State University

Handouts:
Financial Services Marketplace PowerPoint

Insurance for Consumers: Promising Security in an Uncertain World
Insurance premiums represent one of the largest out-of-pocket expenses for the average American family. But in exchange for a fixed sum, the various forms of consumer insurance offer a promise to pay benefits if and when the unexpected affects one’s home, auto, health, life or livelihood. These products, thereby, provide important financial security to families and vital stability to communities and the economy overall. This session surveys insurance for consumers.
Speaker:  Stephen Avilia, Ph.D., Associate Professor of Finance & Insurance, Ball State University, Indiana

Handouts:
Insurance for Consumers PowerPoint

Academy for Excellence Legislative Advisory Committee(Boxed lunches will be provided) 

Financial Services Committee Welcome and Introductions
Presiding Officer:  Senator Ruth Teichman, Kansas, Committee Chair

“Dead-Peasant” Life Insurance: Should Companies Profit When Employees Die?
Firms have long purchased life insurance (COLI) on workers for tax purposes and to protect against financial losses following a key employee’s death. However, many companies now purchase so-called “dead-peasant” policies on low level employees—often without consent—and reap financial windfalls from their untimely deaths. This session explores the issue of corporate owned life insurance (COLI) and state and federal efforts to restrict its use and tax benefits.
Moderator:  Senator Delores Kelley, Maryland
Speakers:  Andrew Beal, General Counsel, National Association of Insurance Commissioners, Kansas City, Kansas
Jim Clary, President and CEO, Mullin Consulting Inc., Deerfield, Illinois
Charles Morgan, Partner, Spring Consulting Group, New Jersey
Jim Poolman, Insurance Commissioner, North Dakota

Handouts:
Charles Morgan Presentation

Insurance Market Conduct Surveillance
It is clear that a modern state system of insurance oversight will require common market conduct standards and improved coordination among states, but a similar consensus has yet to emerge regarding the manner through which states would cooperate in market analysis and on-site examinations. This public hearing on insurance market oversight invites comment from key players on specific actions to strengthen market regulation and the role state legislatures must play in this process.
Moderator:  Representative Keith Faber, Ohio
Speakers:  Joel Ario, Insurance Commissioner, Oregon
Brian Atchinson, Executive Director, Insurance Marketplace Standards Association
Representative Craig Eiland, Texas, President, National Conference of Insurance Legislators
Kevin Hennosy, Spread the Risk Inc., Missouri
Linda Lanam, Vice President, Annuities and Marketing Regulation, American Council of Life Insurers
Susan Voss, Insurance Commissioner, Iowa

Handouts:
Joel Ario Presentation
Brian Atchinson Presentation
Representative Craig Eiland Presentation
Kevin Hennosy Presenation
Linda Lanam Presentation
Susan Voss Presentation

The destruction wreaked by Hurricane Katrina has left many economists uncertain about its short- and long-term effects on the nation’s economy—on energy prices, jobs, agricultural commodities and many others. A member of the Chicago Federal Reserve will offer his insights into the country’s economic outlook.
Speaker:  William Strauss, Senior Economist and Economic Advisor, Federal Reserve Bank of Chicago, Illinois

Steering Committee Meeting 

6:30 pm - 7:30 pm
Normandie Lounge, 2nd Floor

Reception

Thursday, December 8

Plenary Breakfast:  Emergency Preparedness - Lessons Learned from Hurricane Katrina
Preparing for and responding to disasters is clearly a joint responsibility of the federal, state and local governments. That was one of the fundamental lessons learned from the terrorist attacks of September 11, 2001 and learned again in the response to Hurricane Katrina.

Data Security Breaches: Is a Federal Solution the Only Solution? (CLE)
Congress is rushing to enact national protections to govern financial information security following a rash of high-profile data security breaches. All of these proposals seek to preempt state protections in exchange for a national uniform standard. Some go even further to further curtail state authority to protect financial information privacy in virtually any way. Is a uniform approach the only way or should states have a role in protecting sensitive personal information?
Speakers:  Bill Boger, Senior Counsel, Government Relations, American Bankers Association
Buz Gorman, General Counsel, Conference of State Bank Supervisors, Washington, D.C.
Deborah Hagan, Chief, Consumer Protection Division, Office of the Attorney General, Illinois

Handouts:
Speaker Biographies
California Notice of Security Breach Summary
Governing Article, Stolen Identities, August 2005
NCSL 2005 Security Breach Legislation

Financial Services Committee Business Meeting
The Committee will consider policy statements up for renewal during the 2005-2006 year and receive brief state-federal updates key issues. The agenda items for the Committee Business Meeting include:

• Consideration of a proposed Financial Information Privacy policy statement
• Review of the Dual Chartering of Credit Unions policy statement
• Update on Terrorism Risk Insurance Act (TRIA) reauthorization
• Update on federal insurance reform, including optional federal chartering (OFC) of insurance companies and the State Modernization and Regulatory Transparency (SMART) Act

Working Lunch—After Katrina: Lessons for the Financial Services Community
The devastation in the Gulf Coast and its aftermath pose powerful lessons for policymakers. This is especially true across the financial services sectors. Whether the issue is the continuity of banking services, insurance claims settlement, flood and natural disaster insurance, or the safety and soundness of financial institutions, this session provides a panel of experts from across the financial services spectrum to discuss lessons learned from Katrina and offers insights for policymakers to prepare for the next natural disaster.
Moderator:  Wade Adams, Louisiana, Committee Staff Chair
Speakers:  Michael Conner, Regional Support Team, Bank of America, North Carolina
Michael McRaith, Director, Illinois, Division of Insurance
Sydney Seymour, Chief Examiner, Office of Financial Institutions, Louisiana

2:15 pm - 3:45 pm 
Williford B, 3rd Floor

What's the Hubbub about HMDA? (CLE)
(Co-sponsored by the FSL Banking Partners Project)
The Home Mortgage Disclosure Act (HMDA), enacted by Congress in 1975, requires most mortgage lenders located in metropolitan areas to collect and report data about their housing-related lending activities. The act was recently expanded to include more information to advance enforcement of consumer protection and anti-discrimination laws and improve mortgage market efficiency. But, what does the HMDA data actually tell us? Come discuss what information HMDA provides, how it can be used to help both the mortgage market and consumers and what impact it has on state efforts to prevent predatory mortgage lending.
Moderator:  Representative Donna Stone, Delaware
Speakers:  Jay Brinkmann, Vice President, Research & Economics, Mortgage Bankers Association, Washington, D.C.
Marsha Courchane, Ph.D., Principal, ERS Group, Washington, D.C.
Keith Ernst, Assistant General Counsel, Center for Responsible Lending, Durham, North Carolina
Bill Himpler, Senior Vice President, Federal Government Affairs, American Financial Services Association, Washington, D.C.
Kathleen C. Ryan, Counsel, Division of Consumer & Community Affairs, Federal Reserve Board, Washington, D.C.

Handouts:
Speaker Biographies
Marsha Courchane's PowerPoint
Keith Ernst's PowerPoint
Mortgage Bankers Association Housing and Mortgage Markets

FSL Banking Partners Project Business Meeting
Presiding:  Representative Donna Stone, Delaware 

6:15 pm - 7:45 pm

Reception
Join your colleagues for a reception at the Art Institute of Chicago, a short walk from the hotel, and one of America's very greatest museums. The reception will be in the historic and stunning Trading Room, preserved from the former Chicago Stock Exchange. The museum will be open for you to tour during the reception.

Friday, December 9

Special Briefings:

The Aftermath of Hurricane Katrina:   Rebuilding a City and Its People
The debates began well before the water started to recede. To rebuild New Orleans or not was the first question. The second was how? This session will look at the challenges and opportunities of rebuilding a unique and important American city—its infrastructure, economy, education system, culture and families.

Eminent Domain:  Where Do We Go From Here? (CLE)
The Supreme Court’s recent Kelo decision provoked an uproar among property rights advocates and others. Congress and some state legislatures moved immediately to limit use of eminent domain for economic development. The program will try to get beyond the rhetoric and emotions of the issue to explore nuances and potential effects of this important case.

The States and Global Competitiveness
Several states are taking innovative steps to respond to the challenges of global competitiveness. At the NCSL annual meeting in Seattle, Bill Gates said “education trumps everything” in this era of a global economy. The nation’s best seller lists are replete with books analyzing the challenges presented by such mega economic players as China and India. This session will examine the many aspects of these critical issues, with an emphasis on effective state responses.

Fall Forum Business Meeting:   Debate and Voting on Official Policy Statements and Resolutions

Chicago politics is the stuff of mythology. For decades, Americans have been fascinated by the rough and tumble of our prototypical Midwestern city. A long-time observer of the Chicago political scene will explore the history of American politics Chicago style and bring us up-to-date on the latest iterations. 

2:00 pm - 4:00 pm

Buses will load at 2:00 pm and return to the Hilton Chicago by 4:00 pm.

The Jane Addams Hull-House Museum, part of the College of Architecture and the Arts at the University of Illinois at Chicago, is a historic site and memorial to Jane Addams, her innovative settlement house programs and associates, and the neighborhood they served. Housed in two original Hull-House buildings, the museum is an internationally recognized symbol of multicultural understanding, reflecting the long Hull-House tradition of social service and reform, educational innovation, and urban research.

Join the Women's Legislative Network to tour this historic landmark and learn more about Jane Addams' work at the turn of the 20th century. Also hear about the Hull-House Association of Chicago, which today continues Addams' legacy of social programs.