Bill Overview
Title: Caribbean Stakeholders Engagement Act
Description: This bill adds a requirement for the Department of the Treasury to consult with financial institutions and governments of the Caribbean region in developing a strategy to reduce financial services de-risking.
Sponsors: Rep. Waters, Maxine [D-CA-43]
Target Audience
Population: People residing in the Caribbean region
Estimated Size: 1000
- This bill involves consultation with financial institutions and governments in the Caribbean region.
- Financial services de-risking has significant implications for the financial sector in the Caribbean, affecting access to financial services.
- The population dependent on financial services and economic stability in the Caribbean will be directly impacted by changes resulting from this bill.
Reasoning
- The target population in the US comprises employees within the Treasury Department, financial institutions that may engage with the Caribbean region, and policymakers involved in regulatory processes relevant to international financial strategy.
- The budget constraints imply a limited scope for direct interventions, predominantly focusing on high-level strategic consultations rather than large-scale programs directly affecting individual US citizens.
- Most Americans will not perceive a noticeable difference in their lives due to this policy, reflected in their wellbeing scores.
- A small subset of the population involved in the execution of the policy may see marginal changes in workload or job satisfaction, influencing their perception of wellbeing.
Simulated Interviews
Treasury Department Official (Washington D.C.)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 2/20
Statement of Opinion:
- I think this collaboration is overdue. It could mean more workload, but it's a good cause.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Banking Executive (Miami, FL)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- This policy might streamline operations and reduce risks when dealing with Caribbean partners.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Financial Analyst (New York, NY)
Age: 29 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 2.0 years
Commonness: 4/20
Statement of Opinion:
- I don't think this policy will impact my work directly, but it might shift some market trends.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Retired Treasury Employee (New Orleans, LA)
Age: 52 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 5/20
Statement of Opinion:
- I've seen many policies come and go; this seems like a step in the right direction.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Compliance Officer (Houston, TX)
Age: 39 | Gender: other
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 3/20
Statement of Opinion:
- This adds another layer to compliance but is manageable.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Small Business Owner (Chicago, IL)
Age: 48 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 4/20
Statement of Opinion:
- This policy has no direct impact on my business or personal wellbeing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 5 | 5 |
Non-Profit Worker (Boston, MA)
Age: 27 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 3/20
Statement of Opinion:
- If this policy leads to increased economic stability in the Caribbean, it could indirectly benefit the communities I support.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 5 |
Economist (San Francisco, CA)
Age: 60 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 2/20
Statement of Opinion:
- This is a positive move towards stabilizing financial operations in a key region.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Software Developer (San Diego, CA)
Age: 33 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 5/20
Statement of Opinion:
- I'm not directly involved with the policy's focus, so I don't foresee any impact.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Insurance Broker (Atlanta, GA)
Age: 55 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 8.0 years
Commonness: 2/20
Statement of Opinion:
- The policy might improve the risk environment which is beneficial for my work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Cost Estimates
Year 1: $2000000 (Low: $1500000, High: $2500000)
Year 2: $2000000 (Low: $1500000, High: $2500000)
Year 3: $2000000 (Low: $1500000, High: $2500000)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The need for expertise in financial de-risking which could affect implementation speed and cost.
- Potential for positive diplomatic relations and trade benefits with Caribbean countries.
- Limited direct impact on the U.S. financial sector due to geographical focus.