More than 50 leaders of the American Financial Services Association’s (AFSA) Vehicle Finance Division and the National Automobile Dealer Association’s (NADA) met this week in Washington, DC, to discuss opportunities and challenges for the U.S. automotive retail channel.
Also joining the discussion were representatives of the National Association of Minority Dealers (NAMAD); the American International Automobile Association (AIADA) and the Arizona Automobile Association.
The meeting was highlighted by remarks from Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger and economist Dr. William Dunkelberg.
A focus of the full-day meeting was a survey of AFSA’s auto finance lenders, some of the top line issues today for members include cybersecurity and privacy, restrictive regulations, fraud, handling of voluntary protection products, hiring, training and retaining employees, and strength of dealer relationships/dealer satisfaction.
Chuck Jones, AFSA Vehicle Finance Division Chair and Head of National Indirect Lending with SunTrust., noted that lenders are facing stiffer competition in a quickly evolving consumer marketplace.
“The changes facing our industry show us very clearly that we all need to work to maintain our efficiency and flexibility,” Jones said. “It feels like today’s customer has more information, more choices, and more detailed preferences than ever before. Our customers are not just comparing us to one another, but they are comparing us to Netflix and Amazon.”
Jones noted that the 2019 gathering was the tenth meeting between the two groups and called for continued strengthening of the relationship.
More than 50 leaders of the American Financial Services Association’s (AFSA) Vehicle Finance Division and the National Automobile Dealer Association’s (NADA) met this week in Washington, DC, to discuss opportunities and… Read the rest
The Federal Communications Commission (FCC) today published its call-blocking Declaratory Ruling and Third Notice of Proposed Rulemaking in the Federal Register. Comments will be due 30 days after publication and reply comments will … Read the rest
FTC Privacy Con to Focus on Privacy, Breaches
Jun 19, 2019
The Federal Trade Commission (FTC) is holding its fourth annual PrivacyCon on June 27, 2019.
The event promises to focus on issues related to consumer privacy and data security, both of which are issues of critical importance for the consumer… Read the rest
SMS e-Signature for Electronic Documents Webinar
Jun 17, 2019
Join us on June 27th at 2 p.m. ET for SMS for e-Signature and Electronic Documents presented by D’Lange Mobile.
Using text messaging and e-signature offers speed and convenience that consumers increasingly appreciate. There are important… Read the rest
AFSA Attends CFPB Advisory Committee Meeting
Jun 06, 2019
AFSA attended and participated in the Consumer Financial Protection Bureau (CFPB) Consumer Advisory Board meetings held June 5th and 6th in Washington. The focus of the meeting was on broad policy matters related to the Bureau’s Unified… Read the rest
Ajit Pai, Chairman of the Federal Communications Commission (FCC) yesterday announced that proposed rules governing robocalls would likely contain a “safety valve” in order to ensure that legitimate businesses like financial… Read the rest
Each year since the mid-1980s, the AFSA Education Foundation offers two important enrichment programs for employees of member companies. Registration for the 2019 edition of The EDGE program is now closed. However, there’s still… Read the rest