Robert
Reich also met privately with Senator Menendez earlier
in the week ahead of our meeting on January 26th and was
quite encouraged that Menendez will work with Senator
Shelby (and us). We had an excellent presence at
this meeting to let Senators Menendez and Brown get to
know us and to let them know the impact this legislation
will have on us and, more important, our customers.
WHO PARTICIPATED
There were approximately 25 or so in attendance. At
least 12 to 15 were industry representatives. The event
lasted for almost two hours. That is remarkable for two
very high level Senators who have a mighty influence over our fate.
Of course, Robert Reich was in attendance and spearheaded and
arranged the function. In addition, Roy Hutcheson, Sr. and
Roy Hutcheson, Jr. along with Katie Grove with TitleMax (all
AARAL members) attended as did several others from our group in
Alabama and Mississippi that are
reflected on this list. Actually, this list includes
those of our group who participated both financially and/or attended.
We certainly owe a big debt of gratitude to everyone who
attended and contributed. We do not have access to all of the contributors and participants except those of us in Alabama and Mississippi,
which you can see by
clicking
here. But, in addition to our group and the AARAL members mentioned above there were many
others from the industry
around the country who
made significant contributions. In fact, we believe the event may
have raised as much $100,000 when everyone's participation is
totaled. That gets you noticed.
WHAT WAS DISCUSSED
This was as much a fundraiser/social occasion as anything.
That is, we got to know one another up close and personal in a
small group setting.
That said, the discussion from the Senators was about
their view of the "political landscape" in
general. With
regard to our specific issue it seems clear that the election in MA has
been a direct blow to the current momentum of "change."
That is, the priorities have shifted. Both Senators
indicated a need for "balance" in any new CFPA legislation, if
enacted at all. There was no discussion of specifics, but they
knew our focused interest in the outcome of this legislation.
As to whether the
legislation may work its way through the Senate any time soon is really unclear at the moment.
But it is sure not a top
priority as it was before the election in MA. When asked what they believe the new priorities
of the Senate may now be (post MA), they indicated a shift to
jobs, the economy, and then after that some of the issues they had
previously addressed (healthcare, CFPA, etc.). Clearly
there is a new day in DC and we believe that is very good for
us.
WHAT WAS
GAINED
It is
perhaps too early to tell, but we believe this was a very
significant event in many ways. It was a Democratic event
which allowed us to get our story to those who have not been on
our side in the past and it did so in a quite meaningful way!
It also sets the stage for us to go back in when and if this
legislation gets bumped up the list again. From the point
of view of total impact, this was very significant for our
industry.
WE
OWE THANKS
Even though Thanksgiving has passed, we sure owe thanks to all
who contributed and in particular to Robert Reich and others at
AARAL who arranged this event. It was very well done and
more important, we made our presence known in quite a positive
way. We reached a political level where we should be noticed
on the Democratic side of the aisle and in particular in the
Senate Banking Committee. This event coupled with the
recent Shelby event in late November gets our voice right in the
middle of any CFPA discussion in the U.S. Senate!
Thanks to
all who made this such a successful event.
