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JANUARY/FEBRUARY 2003

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COVER STORY
Welcome to a new year and a new look for Credit. 

AFSA's online newsletter underwent a redesign to better meet the interests of its readers. In a survey sent this fall to readers, several respondents said they preferred short news bites that highlight important developments. 

"Like executives everywhere, AFSA executives are pressed for time and don't have many hours in a day to devote to reading publications," said Randy Lively, AFSA's president and CEO. "Credit's redesign provides pertinent information that can be easily read in a short period of time."

Inspiration for Credit's new design came from Spotlight on Financial Services, another AFSA online publication that offers financial services readers insight, research, and analysis that go behind the headlines. "In redesigning Credit, we used Spotlight's design element of a short introduction to each article, thereby enabling the reader to decide whether to read more of the story," said Lee Westell, AFSA's director of publications who oversaw the redesign.

The survey results also indicated that Credit readers continue to be highly interested in developments on government affairs issues. With that in mind, Credit will focus on breaking developments on legislative and regulatory issues on the federal and state levels.
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GOVERNMENT/REGULATORY AFFAIRS
As 2003 gets underway, the most pressing legislative issue before the American Financial Services Association (AFSA) and its members is the expiration of certain provisions within the Fair Credit Reporting Act (FCRA) that preempt or supersede state law.
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Even before the terrorist attacks of September 11, 2001, anti-money laundering legislation was of high concern for all branches of government. The tragedies of September 11th moved this issue to the top of the list of priorities.
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"I must veto the ordinance because it is of no legal force or effect," said the Mayor in his letter. "As elected officials, we owe our citizens the duty of acting in their best interests. It is not sound public policy to pass laws that have no impact and only serve to create false expectations."
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AFSA NEWS
As its next step towards implementing voluntary industry standards in electronic contracting, AFSA on January 6 announced the appointments of two executives.
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Thirteen members comprise the 2003 Auto Finance Advisory Board.
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The survey's purpose is to obtain generic information about AFSA member companies' current use of online channels to reach new customers and retain existing ones.
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FOUNDATION FOCUS

The two groups released the new brochure on February 1st at NADA's annual convention in San Francisco.
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As a follow up to its well-received series of free personal finance workshops held two years ago in New Mexico, AFSAEF returned to the state in January to conduct three more of them.
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The AFSAEF is now accepting applications for the National Institute on Consumer Credit Management (NICCM) and the UNC Management Development Program.
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INDUSTRY UPDATE
National/World Headlines

Countrywide Finance Corporation announced it will increase its annual contribution to Rebuilding Together by 40%, to $280,000, in 2003.
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The private label credit card program will offer instant credit to Pearle Vision customers.
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The office is an extension of Sears' government affairs group based in the company's Hoffman Estates, Ill. Headquarters.
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MEETINGS/CONFERENCES

AFSA hosts its third Finance Industry Conference for European Fixed Income Investors on June 4-5, 2003 in London. Henry Willmore, Global Research with Barclay's Capital, will give the keynote address.
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For a listing of upcoming AFSA meetings and conferences,
click here.

All three meetings will be at Walt Disney's Yacht & Beach Club Resort, the most luxurious resort in the Epcot resort area. AFSA is offering discounted fees for two or more registrants from the same company.
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Updated Marketing Forum Program
Updated Auto Forum Program

The Finance Industry Conference for Fixed Income Investors will celebrate its 13th successful year on May 6-8, 2003 in Chicago. This unique conference will provide complete updates on strategies and operations of over 20 leading U.S. finance companies along with networking opportunities and educational sessions aimed at the fixed income investor.
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AFSA POLL
FCRA PROVISIONS

Do you think Congress will extend the date for the Fair Credit Reporting Act's preemption provisions that are due to expire on January 1, 2004?

Yes
 
No
 
Not sure
 
 

 

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