March 7, 2017 – Wauconda, IL – The Commercial Law League of America hosted its fourth legislative event in Washington D.C. on February 26 – February 28, 2017. CLLA held its first D.C. Legislative Day in February of 2014 and found the event to be very successful in building relationships with legislators, regulators and forming relationships with other like minded organizations.
The Bankruptcy and Creditors’ Rights Teams met with the legislative staffers of our two home Senators and our own District Representative. We also met with the appropriate Senate and House Committees.
The Bankruptcy Team reported: The preference and venue reforms discussions were well received. The venue reform will level the playing field for CLLA’s members and the small vendor clients caught up in a large bankruptcy by not having to travel hundreds (or thousands) of miles to be heard. The preference reform will likewise assist our constituency so that a seller which chooses to work with its buyer, receive some payment within the 90 day preference period, won’t have to refund this money. Though bankruptcy reform may not be on the top of a very busy legislative agenda, progress was still made.
The Creditors’ Rights Teams also reported that, despite the expected posturing, changes are coming to the CFPB. We were pleasantly surprised by the willingness of Congress to listen to our thoughts and ideas. We believe that our members will be able to work with other like minded creditor organizations (with whom we met in DC) to shape those changes.
All of our Hill Team looks forward to telling our members all about our event in Chicago!
More information on these positions can be found on the League’s Hill Day Event page, visit www.clla.org/events.
At the League’s Annual Conference, a panel will provide insight into the 2017 Hill Day experience and how our members can (and should) get involved at home.
For more information on the D.C. Summit or other CLLA events, please contact us or visit our events page www.clla.org/events. View the pdf version here.