As an increase in subsidized student loan interest rates from 3.4% to 6.8% is looming, the amount of student debt continues to increase.  

The Federal Reserve Bank of New York's Household Debt and Credit Report for the first quarter of 2013 shows that 16.2% of Americans have student debt, with variation among states.  ...

Two years ago, Congress passed, and the president signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. A response to the financial meltdown in 2008, Dodd-Frank initiated one of the most significant restructurings of financial regulations since the Great Depression, and a great deal of the reforms hinged on states’ relationships and regulatory authority over financial institutions. Now, with the law in effect and the federal rule-making process well under way, some states are using their new authorities in unpredicted—and unprecedented—ways.

As the chief legal officers of the states, commonwealths and territories of the United States, attorneys general serve as counselors to state government agencies and legislatures, and as representatives of the public interest. A large group of new state attorneys general were sworn in at the beginning of 2011, following the November 2010 elections. This year will bring a continued effort to fight financial fraud but attorneys general now have expanded enforcement authority under a new federal law. The National Association of Attorneys General (NAAG) is also making a priority of providing the highest quality legal training for those in state government service.

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.

In 2005, the Uniform Law Commissioners promulgated the Uniform Debt-Management Services Act (UDMSA). It provides the states with a comprehensive Act governing these services that will mean national administration of debt counseling and management in a fair and effective way. UDMSA may be divided into three basic parts: registration of services, service-debtor agreements, and enforcement.

The November Question of the Month provides a brief overview of state laws in the Midwest regulating the short-term lending industry.

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.
 

BE IT NOW RESOLVED, that The Council of State Governments does hereby endorse and support the efforts of the National Association of State Treasurers to establish an effective system of returning matured, unredeemed savings bonds to their rightful owners.
 

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.