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JULY/AUGUST 2003

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AFSA NEWS
Three AFSA Committees Convene

Three of AFSA's Committees of Professional Interest—Public Communications, e-Commerce and Law—met recently to discuss issues facing the financial services industry in their respected areas.

The Public Communications Committee met Friday, June 20 via Webinar/conference call. Members were updated on a communications campaign in support of AFSA's state-level lobbying efforts on the abusive mortgage lending issue and the latest legal developments concerning abusive mortgage lending. A report was also given on the automotive fair lending issue, an update on the brochure "Understanding Vehicle Financing," the Fair Credit Report Act and Privacy legislation, the AFSA Education Foundation's Electronic Textbook (E-text) MoneySkill, and the Jump$tart Coalition for Personal Financial Literacy's recent activities.

Frank Kauffman, a 16-year veteran of TV and print news, provided members with some do's and don'ts when working with newspapers' editorial pages.

The e-Commerce Committee met June 18 at AFSA's headquarters in Washington, D.C. Members received an update on the latest legislative developments relating to e-commerce issues as well as the status on the voluntary standards on e-Contracts. The committee also discussed challenges facing e-commerce initiatives in the financial services industry.

In a new and innovative format, the Law Committee met in conjunction and separate with the State Government Relations Committee May 18-20 in St. Louis, Mo. The success of this initiative ensures its continuation in the future.

Over the three-day period, several subcommittee meetings took place. The Personal Loan Subcommittee met and discussed issues surrounding arbitration, refund anticipation loan settlements and class action reform legislation. The Credit Card Subcommittee gave a report on recent developments including an examination of the changes in state predatory lending laws as well as recent actions and statements by federal banking regulatory agencies regarding possible preemption for certain institutions. The Home Equity Lending Subcommittee covered predatory lending and abusive lending practices, provided an update on municipal litigation, and reviewed current state and federal litigation. The final subcommittee meeting was the Auto Finance Subcommittee, which discussed litigation involving discriminatory lending as well as consumer arbitration.

All committees of professional interest are scheduled to meet during the AFSA Annual Meeting and Leadership Conference October 25-28 at The Ritz-Carlton Hotel in Washington, D.C.

 
HEADLINES
Three AFSA Committees Convene
American Summit Lending Corporation Joins AFSA
Schmidt Receives AFSA Appreciation Award

 
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