Establishment of Proprietary Education Interagency Oversight Committee

(a) Establishment There is established the Proprietary Education Interagency Oversight Committee (referred to in this Act as the Committee) to be composed of the head (or the designee of the head who is designated under subsection (d)) of each of the following: (1) The Department. (2) The Consumer Financial Protection Bureau. (3) The Department of Justice. (4) The Securities and Exchange Commission. (5) The Department of Defense. (6) The Department of Veterans Affairs. (7) The Federal Trade Commission. (8) The Department of Labor. (9) The Internal Revenue Service. (10) At the discretion of the President, any other relevant Federal agency. (b) Purposes The Committee shall have the following purposes: (1) To improve enforcement of applicable Federal laws and regulations. (2) To increase accountability of proprietary institutions of higher education to students and taxpayers. (3) To ensure the promotion of high-quality education programs. (4) To reduce and prevent fraud and abuse by proprietary institutions of higher education. (c) Responsibilities To meet the purposes described in subsection (b), the Committee shall— (1) coordinate administrative oversight of proprietary institutions of higher education— (A) such that the Federal agencies represented on the Committee may develop a memorandum of understanding to specify responsibilities of each of those agencies in creating the report under section 6; (B) to encourage information-sharing, to the extent practicable, among those agencies related to Federal investigations, audits, or inquiries of proprietary institutions of higher education; and (C) to increase coordination and cooperation between Federal and State agencies, including State Attorneys General and State approval agencies, with respect to improving oversight and accountability of proprietary institutions of higher education; and (2) synthesize cross-agency industry data on proprietary institutions of higher education to— (A) develop an annual report under section 6; (B) publish a For-Profit College Warning List for Parents and Students, in accordance with section 7; and (C) develop consistency among Federal and State agencies in the dissemination of consumer information regarding proprietary institutions of higher education to ensure that students, parents, and other stakeholders have easy access to that information. (d) Membership (1) Designees The head of a Federal agency listed in subsection (a) may designate a high-ranking official of the agency to serve as a designee on the Committee. The designee shall be, whenever possible, the head of the portion of the agency that is most relevant to the purposes described in subsection (b). (2) Chairperson The Secretary or the Secretary's designee shall serve as the Chairperson of the Committee. (3) Committee support The Chairperson of the Committee shall ensure that appropriate staff and officials at the Department are available to support Committee-related work. (e) Committee meetings The members of the Committee shall meet regularly, but not less often than once during each quarter of each fiscal year, to carry out the purposes described in subsection (b) and the responsibilities described in subsection (c). (f) Notification to individuals who submit complaints The head of each Federal agency listed in subsection (a) shall notify each individual who submits to the Federal agency a complaint with respect to a proprietary institution of higher education that information from the complaint may be used to carry out the purposes described in subsection (b).