Ancillary Product Working Group
- Purpose – Reviews litigation and state and federal regulatory issues regarding ancillary/optional protection products in all business lines (e.g. credit insurance, debt cancellation agreements, GAP agreements, extended service contracts, etc.).
- Key Issues – All-in rate caps, GAP 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, including Business Partners.
- Staff Liaison – Danielle Fagre-Arlowe, Senior Vice President
Law Committee
- Purpose – Deals with all aspects of the legal environment facing the financial services industry, including legislative issues, regulatory matters, and litigation. The committee helps to develop AFSA’s judicial, legislative and regulatory policies and strategies.
- Key Issues – Federal and state laws and regulations. Areas of focus include: credit availability, fair lending, credit reporting, debt collection, rate caps, privacy, data security, examinations, voluntary protection products, disclosure, loan servicing, leasing, subprime lending, 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 Devices & Retail Banking, Personal Loans, and Vehicle Finance.
- Eligibility – General counsel and senior counsel from AFSA finance company members.
- Staff Liaison – Celia Winslow, Senior Vice President
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 – Meets in-person three times a year during AFSA conferences. Conference calls as needed.
- Subcommittees/Working Groups – Business Partner Resource Group and Credit Reporting Working Group.
- Eligibility – Staff from finance company members that have compliance responsibilities, such as Chief Compliance Officer. Business Partner members can join the Business Partner Resource Group.
- Staff Liaison – Philip Bohi, Vice President, Compliance Education
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