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May 8, 2018 - Industry News

House Approves Resolution to Repeal CFPB's Dealer Participation Guidance

As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.

Tags: AFSA, auto finance, CFPB, compliance, dealer participation, guidance, NADA

July 21, 2016 - Industry News

Trade Groups Call on U.S. Senators to Support CFPB-Reform Bill

The same week the CFPB celebrated its five-year anniversary, trade groups representing various motor vehicle industries urged U.S. Senators to support legislation that would rescind the regulator’s March 2013 guidance on dealer participation, among other things.

Tags: AFSA, auto finance, CFPB, compliance, dealer participation, NADA, NIADA

April 21, 2016 - Industry News

CFPB to Discuss Arbitration at Field Hearing Next Month

The Consumer Financial Protection Bureau will be holding a field hearing on May 5 in Albuquerque, N.M., to discuss arbitration. CFPB Director Richard Cordray will issue remarks at the hearing

Tags: AFSA, Consumer Financial Protection Bureau, Field Hearing, Richard Cordray

August 14, 2014 - Industry News

Industry Responds to New York Times Op-Ed on Subprime Auto Loans

Photo Credit: Scallop Holden via Compfight cc

Industry associations responded this week to a New York Times opinion piece claiming that subprime auto lending is a predatory practice that stands to go the way of subprime mortgages.

Tags: AFSA, American Financial Services Association, Auto Lending, Department of Justice, impact of the Great Recession, Investigation, mortgage, NADA, National Automobile Dealers Association, Peter K. Welch

January 30, 2014 - Industry News

Industry Groups Question Study on Discrimination in Auto Lending

The Center for Responsible Lending released findings last week that show negotiation does not help African American and Latino car buyers secure better interest rates on auto loans. Auto trade groups, however, were critical of the study’s findings, claiming it lacks data to support its claims.

Tags: AFSA, Auto Lending, Center for Responsible Lending, Consumer Financial Protection Bureau, discrimination, NADA, National Automobile Dealers Association, Study

August 20, 2013 - Industry News

AFSA Launches New Compliance Committee

The traded association's new Operations and Regulatory Compliance Committee will address the policies, guidance, enforcement actions and regulations issued by the federal government and agencies that impact its members.

Tags: AFSA, compliance, Dodd-Frank Act

February 9, 2012 - Industry News

VW Credit’s Stuart Named Chair of AFSA Vehicle Finance Division

The American Financial Services Association (AFSA) named Andrew Stuart as chair of the trade group's Vehicle Finance Division Advisory Board.

Tags: AFSA, AFSA Vehicle Finance Conference, American Financial Services Association, VW Credit

August 11, 2011 - Industry News

Industry Reacts to S&P Downgrade

The head of at least one key financial services association doesn’t expect the auto finance segment to be severely impacted by the downgrade of U.S. debt, but the impact on consumer confidence remains a question.

Tags: AFSA, American Financial Services Association, Credit, Dow Jones Industrial Average, Standard and Poor's, WALL STREET

November 9, 2010 - Industry News

Vehicle Finance Conference to Focus on Evolving Marketplace

To help industry executives anticipate and deal with changes in the vehicle finance marketplace, the American Financial Services Association’s (AFSA) said its 15th Annual Vehicle Finance Conference and Exposition will focus on evolving with the changing market.


January 6, 2010 - Industry News

AFSA's 2010 Conference to Address Industry's Top Challenges

While the economy is beginning to show signs of recovery, many challenges remain for the vehicle finance industry. In response, the American Financial Services Association (AFSA) has assembled a powerful lineup for its 14th Annual Vehicle Finance Conference and Exposition, which will be held Feb. 10-12 at Walt Disney’s Yacht Club Resort in Lake Buena Vista, Fla.

Tags: AFSA, Finance, NADA

December 3, 2009 - Industry News

Journalist Chris Wallace to Headline AFSA’s 2010 Vehicle Finance Conference

Veteran journalist Chris Wallace will give the keynote address at the American Financial Services Association (AFSA)’s 14th Vehicle Finance Conference and Exposition, scheduled for Feb. 10-12, 2010, at Walt Disney’s Yacht Club Resort in Lake Buena Vista, Fla.

Tags: AFSA, Finance

September 24, 2009 - Industry News

AFSAEF Offers Free Resources for Consumer Financial Protection

The American Financial Services Association Education Foundation (AFSAEF) introduced two new resources to help borrowers take steps to protect their finances.

Tags: AFSA, consumer financial habits

September 17, 2009 - Industry News

Hudson Cook’s Founding Partners Receive AFSA Service Award

Hudson Cook LLP, a provider of legal compliance services for the financial services industry, announced that the American Financial Services Association (AFSA) awarded its 2009 Distinguished Service Award to the firm’s founding partners, Tom Hudson and Robert Cook.

Tags: AFSA, Hudson Cook LLP

September 15, 2009 - Industry News

AFSA Opposes Obama's Proposal for New Federal Agency

President Barack Obama addressed Wall Street’s financial firms Monday to promote his agenda for financial regulatory reform, which includes expanding the authority of the Federal Reserve and creating the Consumer Financial Protection Agency (CFPA). But at least one association representing the financial services industry is balking at his proposals.

Tags: AFSA, financial reform, financial regulation, Obama administration

July 16, 2009 - Industry News

Proposed Financial Protection Agency Will Cost Consumers, Says AFSA

At yesterday's hearing on financial regulatory reform, Chris Stinebert, president and CEO of the American Financial Services Association (AFSA), told the House Committee on Financial Service that the proposal to create a consumer financial protection agency would impose a new tax on consumers at a time when they are least able to afford it.

Tags: AFSA

May 15, 2009 - Industry News

Proposed Bill Restricts Post-Sale Changes in Finance Terms

A legislative proposal heard this week by a U.S. House of Representatives subcommittee directs the Federal Trade Commission (FTC) to issue new rules that would have significant ramifications for the auto finance industry, says the chief federal government affairs official for the American Financial Services Association (AFSA).

Tags: AFSA, annual percentage rate, Finance, interest rates

May 5, 2009 - Industry News

AFSA Calls For Increase in TALF Participation

The American Financial Services Association presented a letter today to the U.S. Treasury Department and the Obama administration’s Auto Task Force that provided recommendations for increasing participation in TALF.

Tags: AFSA, floorplan financing, TALF

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