Recently, a number of NCIGF members, board members and staff took Capitol Hill by storm to do some updating on the state guaranty fund system. Meetings like these are critical, especially after an election year that saw a shift in power in the House of Representatives and the election of 100 new members of Congress, many of whom are without a background in financial services. Here are a few quick takes from the day:
- 16 total meetings; 15 of which were with members of the Senate Banking and House Financial Services Committees.
- Cross-section of senior members and freshman members, including:
- Senate Banking Committee Chairman, Mike Crapo
- Housing, Community Development, and Insurance Subcommittee Chairman, Lacy Clay
- Housing, Community Development, and Insurance Ranking Member, Sean Duffy
- 4 House Financial Services Committee freshmen
- Overarching theme in the meetings was support for the state system.
- Members and staff expressed appreciation for NCIGF’s engagement.
Many thanks to those who participated, along with John Blatt, Amy Clark and me (from NCIGF staff): Chad Anderson (WGFS), Charlie Breitstadt (Nationwide), Allan Patek (WI), Barbara Law (GFMS), Barry Miller (DE), Brad Roeber (CA) and Frank Knighton (GA). I feel confident we are off to a good start with this Congress. We’ve invested large amounts of resources, especially since the financial crisis, to assure federal lawmakers that the state-based safety net is prepared to protect consumers. Now is not the time to let up.