According to the latest economic indicators, the US economy is holding steady but also hitting a soft patch as evidenced by lower consumer spending in the month of April.  This news in conjunction with the fact that inflation has halted to just 0.7 percent over the past year seems to indicate that the Fed will not start curtailing the buying of bonds as originally proposed by Chairman Bernanke.  The Fed is currently purchasing 85 billion dollars’ worth of bonds per month. 

International trade creates litigation between countries and judgments that must be enforced from country to country. There is a strong need for uniformity between states with respect to the law governing foreign country money-judgments. If foreign country judgments are not enforced appropriately and uniformly, it may make enforcement of the judgments of American courts more difficult in foreign country courts.

NOW, THEREFORE BE IT RESOLVED that The Council of State Governments urges that the United States Congress and the President of the United States maintain and enhance the ability of the states to protect the investors and consumers residing in their states taking no action that would jeopardize, diminish, or preempt the existing authority of the states to investigate and prosecute investment fraud and other illegal investment activities by broker-dealers, investment advisers, their agents and representatives, financial planners, and any other persons or entities, whether licensed or unlicensed, engaged in activities in connection with the offer and sale of securities within a state.

BE IT FURTHER RESOLVED that a copy of this resolution shall be forwarded to each member of the United States Congress and to the President of the United States.

NOW, THEREFORE BE IT RESOLVED, that The Council of State Governments opposes preemption of state and local finance authority and state oversight of the debt issuance process through revision or repeal of the Tower Amendment or enactment of legislation to subject state and local government issuers to federal disclosure laws.

BE IT FURTHER RESOLVED, that The Council of State Governments supports the self-regulatory structure of the municipal market, and the commitment of all issuers of municipal securities with federal and state laws and Securities and Exchange Commission rules.

CSG South

This report was prepared for The Council of State Governments Financial Services Working Group by Dwight V. Denison, Merl M. Hackbart, Juita-Eleana (Wie) Yusuf, and Jay H. Song of the University of Kentucky's Martin School for Public Policy and Administration.

Rapidly expanding proportions of retail- and business-related payments, traditionally made by cash and check, are now being made electronically through Automated Clearing House (ACH) or using credit or debit cards. Increasingly, the shift to electronic payments is also occurring in the public sector. The principal purpose of this study was to determine current state government acceptance and use of electronic tax and fee payments. Related purposes included an analysis of policies and procedures implemented by the states to more effectively facilitate and manage electronic payment processes.