PACIFIC LIFE INSURANCE COMPANY for PACIFIC LIFE INSURANCE COMPANY
What was lobbied
8 issue areas, each in the filer's own words, with who lobbied on it and where.
Taxation/Internal Revenue Code TAX
HR 1 Tax Cuts and Jobs Act. ISSUE: Taxation of life insurers. Discussions related to Tax 2.0 Package. H.R. 6201,Families First Coronavirus Response Act - tax credits for employers regarding coronavirus paid time off. Life Insurance Product and Tax Stabilization Proposals (no bill introduced yet.) COVID-19 Response Tax Proposals re 7702 and Ordinary Treatment of Bonds (no bill introduced). Extending corporate tax payment deadline. Wyden Tax Wealth Like Wages (mark-to-market) discussion paper (no bill introduced yet) Life Insurance Product and Tax Stabilization Proposals (no bill introduced yet) Technical corrections to the Tax Cuts and Jobs Act (bill not introduced) Tax Extenders: H.R. 3301 (no Senate bill introduced yet) Treasury Guidance on 1035 exchanges. The Consolidated Appropriations Act of 2021: HR 133
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Housing HOU
CFPB ANPR on HMDA treatment of business or commercial purpose loans made to a non-natural person and secured by a multifamily dwelling. CFPB NPRM on Increasing Transaction Thresholds. TALF eligibility of commercial mortgage backed securities. Potential CMBS legislation.
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Budget/Appropriations BUD
H.R.___ / S. ____- Financial Services and General Government Appropriations Act. Making appropriations for financial services and general government for the fiscal year ending September 30, 2021, and for other purposes. Issue: Global insurance standards; SIFI de-risking. HR 133 - The Consolidated Appropriations Act of 2021.
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Retirement RET
Department of Labor Fiduciary Rule, SEC Best Interest Standard. S. 1431 - Retirement Security and Savings Act. H.R. 1865 Further Consolidated Appropriations Act. Coronavirus Aid, Relief, and Economic Security Act (CARES) Act Provisions on retirement including: Temporary Waiver of RMD, increase in loan amount from Employer Sponsored Plans, IRS Penalty tax free distribution from eligible retirement plans SECURE 2.0. (no bill number) Proposal would be next iteration of retirement security policy. S. 1431, Retirement Security and Savings Act of 2019. Retirement Security. Discussions related to the following bills from the previous Congress: H.R. 3857 - Protecting Advice for Small Savers Act of 2017 addressing the DOL Fiduciary rule and establishing a best interest standard for financial advisors. H.R. 4524 - The Retirement Simplification and Enhancement Act of 2017 Issue: Lifetime income provisions. H.R. 4523 - The Automatic Retirement Plan Act Issue: Retirement Security. H.R. 3910 - Amends the Internal Revenue Code of 1986 to make lifetime income and managed account options of defined contribution retirement savings plans portable. H.R. 1994 - Setting Every Community up for Retirement Enhancement Act Issue: Retirement Security. H.R. 1439 - The Increasing Access to a Secure Retirement Act Issue: measures to bolster Americans retirement security and annuity selection safe harbor. HR 5282/S 2526 - Retirement Enhancement Savings Act. H.R. 2055/ S. 868 - Lifetime Income Disclosure Act. Issue: lifetime income illustration Electronic Delivery Advocacy. (no bill number) Proposal would make electronic delivery the default distribution method for plan documents. Opt-out available. Securing a Strong Retirement (SSRA) Act of 2020. Proposal would be next House iteration of retirement security policy. H.R. 8990, the Lifetime Income for Employees Act. Expands QDIA regulations. S. 5064, Improving Access to Retirement Savings Act, includes provisions that were in SSRA, but not included in S. 1431. H.R. 6800, The HEROES Act. Large, comprehensive COVID-19 relief bill. Includes RMD relief and single employer pension plan relief.
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Insurance INS
Discussions related to the following bills introduced from the previous Congress: S.488 - The JOBS and Investor Confidence Act of 2018 Issue: Insurance provisions in Jobs 3.0 package. S 1360/HR 4537/ H.R. 3762 - International Insurance Standards. HR 3861 FIO Reform; H.R. 4483 - Federal Insurance Office Abolishment Act of 2017. Issue: FIO reform. HR 3746/S 2702 - Business of Insurance Regulatory Reform. S. 2155 - Economic Growth, Regulatory Relief, and Consumer Protection Act, including provisions relating to international insurance standards, systemic designations, and senior investor protection. S. 2180 - Amendment to S. 2155 (Murray/Collins). H.R. 5059 State Insurance Regulation Preservation Act addressing Federal Reserve Board supervision of insurance companies. H.R. 5666/S. 3177 - Primary Regulators of Insurance Vote Act of 2018. S.__ Draft legislation regarding Federal Reserve Board supervision of insurance companies. Public Law 111-203, H.R. 4173 - Dodd-Frank Wall Street Reform and Consumer Protection Act. Issue: Implementation and Regulatory reform. Captive Reinsurance Transactions, Insurance Capital Standards and Global Capital Standards. H.R. 133 - Consolidated Appropriations Act of 2021. Year end funding and COVID relief bill. Issue: The CARES Act temporarily suspends the generally accepted accounting principles (GAAP) S.4325 - Business of Insurance Regulatory Reform Act of 2020 Issue: Insurance exclusion from CFPB jurisdiction.
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Consumer Issues/Safety/Products CSP
Discussions related to H.R. 6743 Consumer Information Notification Requirement Act. Issue: Cybersecurity. Draft legislation that would require notice of data security breaches. Issue: Cybersecurity and Privacy. Consumer Data Privacy and Security Act of 2020 Issue: Business interruption insurance. H.R. 4978 - Online Privacy Act. Issue: Data Privacy S.___ - To amend the Electronic Signatures in Global and National Commerce Act to accommodate emerging technologies. Issue: Data Privacy Data Accountability and Transparency Act 2020 (no bill number assigned) E-Sign Modernization Act, S. 4159 S. 4626 - A bill to establish data privacy and data security protections for consumers in the United States. Issue: Data privacy
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Financial Institutions/Investments/Securities FIN
H.R. 5084 - Improving Corporate Governance Through Diversity Act. H.R. 5360 - Closing the Racial Wealth Gap Act. H.R. 281 - Ensuring Diverse Leadership Act. H.R. 7946 and S. 4464 - Federal Reserve Racial and Economic Equity Act. Implementation of S. 2270 - Insurance Capital Standards Clarification Act of 2014. The bill would give the Federal Reserve the authority to tailor capital standards for insurance companies subject to Fed supervision. Issue: Capital Standards, Basel III. Export Import Bank: additionality policies and procedures. Discussion Draft: International Insurance Standards Act. H.R. 1596/S. 627 - The Secure and Fair Enforcement or SAFE Banking Act of 2019. S. 2201 - The Clarifying Law Around Insurance of Marijuana (CLAIM) Act. H.R. 1832 - Insurance Fairness for First Responders Act of 2019. S. 3533 Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 Potential ESG Legislation. H.R. 2474/S.664 - Protecting Workers Freedom to Organize Act. To amend the National Labor Relations Act, the Labor Management Relations Act, 1947, and the Labor-Management Reporting and Disclosure Act of 1959. Issue: independent contractor status. H.R. 6994/S. 3795 - Registration for Index-Linked Annuities Act. To direct the SEC to revise any rules necessary to enable issuers of index-linked annuities to use the securities offering forms that are available to other issuers of securities. Issue: index-linked annuities. S.__ Clarifying that the CFPB does not regulate the business of insurance. Issue: Making Diversity and Inclusion Efforts more Intentional. No bill number assigned. Potential legislation on banning short selling H.R. 1862/S. 1586 - Federal Insurance Office Abolishment Act of 2019. Issue: FIO reform. Discussions related to the following bills from the previous Congress: H.R. 10 - Financial CHOICE Act. Issue: Implementation and regulatory reform of the financial services industry. Covered agreement on prudential measures with respect to the business of insurance and reinsurance. No bill number assigned. Public Law 111-203, H.R. 4173- Dodd-Frank Wall Street Reform and Consumer Protection Act. Issue: Implementation and Regulatory reform. Captive Reinsurance Transactions, Insurance Capital Standards and Global Capital Standards. Draft legislation that would require notice of data security breaches. Issue: Cybersecurity and Privacy. H.R. 7809 - Helping Open Properties Endeavor (HOPE) Act of 2020. This bill establishes an equity facility in the Department of the Treasury to assist commercial mortgage borrowers. Specifically, Treasury must guarantee the purchase by financial institutions of certain equity instruments backed by a commercial mortgage. The bill defines commercial mortgage as a mortgage loan secured by an interest in real property owned for rental income. Borrowers with reduced revenues from their commercial property may qualify for an amount not to exceed 10% of the outstanding amount owed on their commercial mortgage. Issue: Commercial mortgages. Section 4013 and 4014 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) - Jones/McSally amendment advocating for the inclusion of financial institutions in both provisions. H.R. 7913 - Financial Institution Forbearance Act. To amend the CARES Act to improve the temporary relief from troubled debt restructurings, and for other purposes. Issue: troubled debt restructurings. H.R. 7914 - Eliminating CECL Accounting Standard Act. This bill provides that no one shall be required to comply with a specified accounting standard applicable to credit losses (i.e., the current expected credit losses standard, also known as the CECL standard). Issue: CECL
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Agriculture AGR
H.R. 1872/S. 1641 ECORA Act
| Lobbyist | Covered position, as disclosed |
|---|---|
| ALLISON LEIGH SHUSTER | — |
| SEAVER SOWERS | — |
| JENNIFER WEBB | — |
Shown as published by the Senate Office of Public Records and the House Clerk under the Lobbying Disclosure Act. The official filing is the record; open it for the full form.