AFSA this week submitted three comment letters to federal agencies.The first letter is in response to the Federal Deposit Insurance Corp.’s (FDIC) request for comment on the agency’s process for approving new state chartered banks. The letter spelled out the importance that the creation of new industrial banks has and pushed the FDIC to make the process easier.

AFSA’s State Government Affairs department this month published its Municipal Zoning Restrictions white paper. AFSA’s white paper takes an in-depth look at recent activity by municipalities seeking to regulate small loan locations, including trends in introductions of such ordinances and recent state legislation setting requirements for municipalities looking to regulate small lending.

AFSA met with Jelena McWilliams, the Chairman of the FDIC, this week. AFSA raised several key issues with the Chairman, including: the lingering effects of Operation Choke Point, how the Military Lending Act (MLA) limits the availability of credit for service members and their families, the benefits of industrial bank charters, the FDIC’s request for information on small-dollar lending, and the increasing Telephone Consumer Protection Act (TCPA) litigation.

Among the many panels of subject matter experts at the recent AFSA Vehicle Finance Conference tackling the latest technology topics facing the industry, the subject of Blockchain drew a standing room only crowd of execs looking for information to determine if and when using Blockchain is right for their businesses.

The AFSA Board of Directors recently approved the nominations of three executives to replace three board members, all of whom recently retired.

The American Financial Services Association is pleased to announce the addition of Toni-Lewis Bennett as Vice President of Member Services & Engagement. Lewis-Bennett was hired following the departure of Sheilah Harrison who retired at the end of January after more than 30 years of service.

The American Financial Services Association (AFSA) Monday announced that its board of directors has elected Dan Chait, President of Southeast Toyota Finance, as the new chair-elect of the AFSA board.Chait has been on the AFSA Board of Directors since 2015 and recently joined the AFSA Executive Committee. As chair-elect, he is next in line to become board chair at AFSA’s Annual Meeting in October 2019, succeeding current chair Josh Johnson, CEO of Mariner Finance.Southeast Toyota Finance is a leading provider of financial services to automotive dealers, consumers and lenders, and a subsidiary of diversified automotive corporation JM Family Enterprises, Inc. Chait also serves as a member of JM Family’s Executive Management Team, which oversees the development and implementation of the company’s long-range planning and strategies for future growth.As President, Chait is responsible for the strategic and operational management of Southeast Toyota Finance, which provides financial products to Toyota dealers and consumers in the Southeast, manages a portfolio in excess of $10 billion and was recently awarded “#1 in Mass Market Automotive Consumer Financing Satisfaction” by J.D. Power.Chait joined Southeast Toyota Finance in 2002 as Vice President, Asset Management. In 2007, he became Group Vice President, responsible for Portfolio Management, Dealer Services, Operations, Sales and Marketing functions.In 2012, he was promoted Preside …

Member companies of the American Financial Services Association (AFSA), whether in auto finance or traditional installment lending, are reaching out to customers who are adversely affected by the federal government shutdown, the longest shutdown in U.S. history.

The chief executives of five auto finance lenders, representing captives and major banks, will participate in a panel discussion next week at AFSA’s annual Vehicle Finance Conference, capping off three days of deep dives and 30,000-foot overviews of what the auto finance industry faces today and in the near future.

AFSA strives to assemble meeting presentations that address critical issues for consumer finance companies. At the upcoming 2nd Annual Law & Compliance Symposium, AFSA will be featuring speakers from Akerman LLP to address two discrete issues of significance.