WASHINGTON — The American Financial Services Association (AFSA) has dedicated a new committee, called the Operations and Regulatory Compliance Committee, to address compliance concerns in the wake of new rules and regulations implemented by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The committee will address the policies, guidance, enforcement actions and regulations issued by federal government and agencies that impact the association’s auto finance members.
“Complying with the volume of new regulations coming out of Washington is a time consuming and labor intensive process,” said Chris Stinebert, AFSA president and CEO. “Companies are looking for answers, and the ORCC aims to provide them. This new committee assists our member companies deal with many of the compliance issues they face by developing industry resources and educational materials.”
The committee is chaired by John Noone, retired president of Ford Motor Credit and principal of Noone Consulting Group LLC. Noone served as the 2011-2012 AFSA chairman.