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Financial Services Committee

Spring Forum Agenda

Chair
Rep. Sonny Googins, Connecticut

Staff Chair
Donna Hausenaur, Michigan

Vice Chairs
Asm. David Goldwater, Nevada
Rep. Frank Mautino, Illinois
Rep. Donna Stone, Delaware
Rep. Joe Towns, Jr., Tennessee

Staff Vice Chairs
Wade Adams, Louisiana
Ryan Wilson, Maryland

Thursday, April 24, 2003

10:00 am - 5:00 pm
White Hill Room
Fourth Floor

Task Force to Streamline and Simplify Insurance Regulation

The NCSL Executive Committee established this special task force to examine state insurance regulation for the modern economy and, if necessary, to recommend reforms that will allow insurers to compete more effectively in the integrated financial marketplace and to respond with innovation and flexibility to market forces-all while strengthening consumer protections. Committee members are welcome and encouraged to attend.

Co-Chairs
Senator Kemp Hannon, New York
Representative Frank Mautino, Illinois

Friday, April 25, 2003

8:00 am - 9:30 am
Georgian Room
Mezzanine

Plenary Breakfast: State Fiscal Conditions

The budget challenges facing state legislatures this year are unprecedented. Hear about the latest economic trends and how state legislatures are coping with these tight fiscal times.

Speakers
Lynn Browne, Federal Reserve Bank, Boston, Massachusetts
Senator Lana Oleen, Senate Majority Leader, Kansas
Speaker Thomas Finneran, House of Representatives, Massachusetts
Corina Eckl, National Conference of State Legislatures, Colorado

9:45 am - 11:15 am
Stuart Room
Fourth Floor

Insurance Regulation for the Modern Economy (CLE)

During the 108th Congress, key federal lawmakers promise to begin considering federal action to regulate the business of insurance. In response, states are moving to streamline, simplify and coordinate state systems to meet the needs of the new financial marketplace and forestall federal action. This session explores the prospects for federal action on insurance regulation and examines state efforts to reform, including the proposed interstate insurance compact.

Presiding
Representative Sonny Googins, Connecticut, Chair, Financial Services Committee

Speakers
Senator Kemp Hannon, New York, Co-Chair, Task Force to Streamline and Simplify Insurance Regulation
Representative Frank Mautino, Illinois, Co-Chair, Task Force to Streamline and Simplify Insurance Regulation
Jim Poolman, Insurance Commissioner, North Dakota
Neil Alldredge, National Association of Mutual Insurance Companies, Indiana

11:30 am - 1:00 pm
Stuart Room
Fourth Floor

Predatory Mortgage Lending

Congress is considering legislation to preempt all state authority to regulate predatory mortgage lending. Meanwhile, federal agencies have moved aggressively to preempt state anti-predatory lending laws through regulatory actions. This session examines federal legislation and regulation and their potential affect on state authority to protect financial consumers against abusive and deceptive mortgage lending practices.

Co-Presiding
Representative Donna Stone, Delaware, Vice Chair, Financial Services Committee
Representative Peter Lewiss, Rhode Island, Vice Chair, Economic Development, Trade and Cultural Affairs Committee

Speakers
Gregory Jefferson, Association of Community Organizations for Reform Now, Washington, D.C.
Colleen Kelly, Credit Union National Association, Washington, D.C.
Denis O'Toole, Household International, Washington, D.C.
John Ryan, Conference of State Bank Supervisors, Washington, D.C.

1:15 pm - 2:15 pm
Stuart Room
Fourth Floor

Looking Out for Small Investors: The States, the SEC and Investor Restitution

States have been investigating conflicts on interest in the investment community for nearly two years and may secure $1 billion or more in penalties. Although states routinely seek and obtain restitution for investors, some in Congress say that this money should go to a federal fund to be distributed by the Securities and Exchange Commission. State securities administrators want states to make these decisions. This session explores the issue of investor restitution and the states' role in protecting small investors.

Speakers
Christine Bruenn, Securities Administrator, Maine, President, North American Securities Administrators Association
Madeleine Blake, Securities and Exchange Commission, Massachusetts

2:15 pm - 3:15 pm
Stuart Room
Fourth Floor

"Toxic Mold" and Insurance

The fear of 'toxic mold' in cellars and bathrooms across the country has led to a national health scare. It also has increased water damage insurance claims as much as 40 fold in some areas and had a serious effect on the cost and availability of homeowners and commercial liability insurance. In response, about two-thirds of states have placed limits on mold-related insurance claims. This session explores the genuine health concerns of mold and discusses the role of insurance in offsetting the costs and fears of this unexpected public concern.

Presiding
Ryan Wilson, Maryland, Staff Vice Chair, Financial Services Committee

Speakers
Eric Goldberg, American Insurance Association, Washington, D.C.
Eugene Beniot, Environmental Protection Agency, Massachusetts
Robert Dushman, Brown, Rudnick, Berlack, Israels, LLP, Massachusetts

3:30 pm - 5:00 pm
Stuart Room
Fourth Floor

Financial Services Committee Business Meeting

The committee will receive an update on major issues related to state banking, insurance, credit union and securities regulation. Members will discuss on committee policies.

Presiding
Representative Sonny Googins, Connecticut, Chair, Financial Services Committee

Speakers
Brian Knight, National Association of State Credit Union Supervisors, Virginia
Deborah Fischione House, North American Securities Administrators Association, Washington, D.C.
John Ryan, Conference of State Bank Supervisors, Washington, D.C.
John Fielding, National Association of Insurance Commissioners, Washington, D.C.

6:30 pm - 8:00 pm
Lower Lobby

Reception in the Terrace Room

Saturday, April 26, 2003

8:15 am - 9:15 am

A continental breakfast will be provided and available on both the mezzanine and fourth floor.

8:45 am - 10:15 am
Georgian Room
Mezzanine

Financial Privacy: You and Your Personal Information (CLE)

The Gramm-Leach-Bliley Act sets the floor for financial information sharing among non-affiliates while the Fair Credit Reporting Act preempts state authority to regulate information sharing among affiliates. Both acts place safeguards on the confidentiality of nonpublic personal information held by a wide array of financial institutions. With identity theft increasing, this session will examine state and federal activities to protect financial privacy.

Speakers
Representative William Straus, Massachusetts
John Ryan, Conference of State Bank Supervisors, Washington, D.C.

10:30 am - 12:00 pm
Clarendon Room
Mezzanine

NCSL Business Meeting

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