• Purpose – Reviews litigation and state and federal regulatory issues regarding ancillary products in all business lines (credit insurance, debt cancellation agreements, GAP agreements, extended service contracts, etc.).
• Key Issues – All-in rate caps, GAP waiver refund requirements, restrictions on voluntary protection products, requirements for vehicle service contracts, motor clubs, and extended warranties.
• Calls/Meetings – Monthly conference calls and as needed. Meets annually in-person in May/June.
• Subcommittees/Working Groups – None.
• Eligibility – Any staff member from an AFSA member company.
• Staff Liaison – Matt Kownacki, Director, State Research & Policy

Law Committee

• Purpose – Deals with all aspects of the legal environment facing the financial services industry, including legislative issues, regulatory matters, and litigation. Helps to develop AFSA’s judicial, legislative and regulatory policies and strategies.
• Key Issues – Federal and state laws and regulations, debt collection, the Telephone Consumer Protection Act (TCPA), data security, examination and enforcement trends, voluntary protection products, social media, servicing, litigation trends, and Fintech.
• Calls/Meetings – Meet in-person three times a year. Communicate regularly via committee email.
• Subcommittees/Working Groups – Emerging Issues, Litigation, Mortgage Lending, Payment Cards, Personal Loans, and Vehicle Finance.
• Eligibility – General counsel and senior counsel from AFSA finance company members.
• Staff Liaison – Celia Winslow, Vice President, Legal & Regulatory Affairs

Operations and Regulatory Compliance Committee (ORCC)

• Purpose – Address the policies, guidance, enforcement actions, and regulations issued by the federal government and agencies. Assist member companies with compliance issues and develops industry resources and educational materials. Oversees AFSA University.
• Key Issues – Credit reporting, cybersecurity, debt collection, vendor management, change management and digital transformation.
• Calls/Meetings – Monthly conference calls and as needed. Meets annually in-person in May/June.
• Subcommittees/Working Groups – Business Partner Resource, credit reporting, and default servicing.
• Eligibility – Staff from finance company members that have compliance responsibilities, such as Chief Compliance Officer.
• Staff Liaison – Philip Bohi, Vice President, Compliance Education