Attendees gather key insight on best practices and current issues
facing the consumer credit industry
WASHINGTON–(BUSINESS WIRE)–#AFSAmtgs–The American Financial Services Association (AFSA) just concluded its 100th
anniversary Annual Meeting at The Breakers in Palm Beach, Fla. The
conference paid tribute to AFSA’s formation as the American Association
of Small Loan Lenders, with 41 members in 1916. Today, the association
advocates for more than 400 member companies. In the past year, 62 new
members joined the association, a record annual increase of membership.
“We are proud to be serving our members who have provided access to
affordable credit for the last century,” said AFSA President and CEO
Chris Stinebert. “With a constantly evolving regulatory landscape,
ensuring Americans have access to the credit they need is more important
now than ever before. That’s why we’re viewing our 100th
anniversary as an opportunity to redouble our efforts ensuring Americans
have access to consumer credit.”
Attendees were treated to a video tribute, commemorating the century of
progress the consumer credit industry has made. AFSA Chairman Nathan
Benson also delivered remarks, highlighting the value of AFSA
membership. Attendees then heard a keynote address by bestselling author
and presidential historian, Michael Beschloss.
Traditionally, the Distinguished Service Award (DSA), is awarded at the
Annual Meeting. The DSA is the association’s highest honor recognizing
individuals who have contributed significantly to the industry and the
association’s growth on a national level, advanced its mission and
objectives, and elevated its image. The 100th Anniversary
celebration included a tribute to all previous DSA winners, many of whom
were present at the meeting.
The final day of the conference emphasized all aspects of compliance and
a discussion of federal regulations impacting AFSA members. David
Hixson, Counsel, Office of Regulations at the Consumer Financial
Protection Bureau (CFPB) discussed the bureau’s debt collection
initiatives. In a general session, Andrea Riley, Chief Marketing Officer
with Ally Financial, shared insight about how the company adapts to
rapid change in the digital and social media space and its best
practices for engaging with consumers.
The afternoon session was dedicated to AFSA’s Annual Compliance
SpeedSmarts roundtables where experts offered advice on navigating the
onset of federal rules and proposals. Topics ranged from the Military
Lending Act to the CFPB’s small-dollar and debt collection proposals.
Based in Washington, D.C., the American Financial Services Association
(AFSA), celebrating its centennial in 2016, is the national trade
association for the consumer credit industry, protecting access to
credit and consumer choice. Its 400 members include traditional
installment lenders, vehicle finance/leasing companies, consumer and
commercial finance companies, mortgage lenders and servicers, payment
card issuers, industrial banks and industry suppliers. For more
information, visit www.afsaonline.org.
American Financial Services Association (AFSA)