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COVER STORY For the third year, the Marketing Forum, Auto Finance Forum, and the Independents Conference & Exposition took place March 25-29 at Disney's Yacht & Beach Club Resort in Lake Buena Vista, Fla.
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Ray Biggs, AFSA chairman and president and chief operating officer of Security Finance, addresses this year's Independents Conference.
GOVERNMENT/REGULATORY AFFAIRS
On
March 19, 2003 the House passed its Bankruptcy Reform bill, HR975,
by a margin of 315-113.
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A broad coalition of organizations (including AFSA) that favor retention of a national credit system launched an aggressive advertising campaign this spring to generate support for extending certain provisions in the Fair Credit Reporting Act (FCRA) set to expire at the beginning of next year.
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INDUSTRY
UPDATE
National/World Headlines
Ford Credit announced April 4th that it plans to exit automobile leasing in New York in early July 2003 in response to an outdated law that holds leasing companies responsible for accidents involving their leasing customers. New York's vicarious liability law has resulted in large payouts by leasing companies to resolve litigation.
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GE Consumer
Finance, the consumer-lending unit of General Electric Company,
announced it plans to acquire Conseco Finance Corp.'s sales finance
unit with a bid valued at $310 million. The acquisition includes
private label credit card receivables and certain consumer installment
and home improvement loan assets.
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Sears announced
that it is evaluating strategic alternatives for the company's
Credit and Financial Products business, including its possible
sale, in order to create value for all investors and focus on
its profitable core Retail and Related Services business.
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AFSA
NEWS
 Ben Cheek, chairman and CEO of 1st Franklin Financial Corporation, was installed as chairman of the AFSA Independents Advisory Board during the 20th Annual Independents Conference & Exposition held March 27-28 in Lake Buena Vista, Fla.
More Details  AFSA awarded Barbara McFadden, chairman of Motorists Acceptance Corporation in Beaumont, California, as this year's Outstanding Independent.
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Chairman of the Board, Ray Biggs, addresses the Independents Section
during its 20th anniversary in Lake Buena Vista, Fla.
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FOUNDATION
FOCUS
 On April
3, Federal Reserve Board Chairman Alan Greenspan gave the luncheon
address to the Jump$tart Coalition for Personal Financial Literacy
during the groups' annual luncheon. April also marks Financial
Literacy for Youth month.
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Electronic Personal Finance
Course Being
Tested
MoneySKILL, AFSA Education Foundation's electronic personal
finance course, is being beta tested in high schools nationwide.
MoneySKILL, a highly interactive, reality-based Internet curriculum,
educates students to make informed financial decisions. The course
consists of 38 "How To" modules on income, money management, spending
and credit, and saving and investing. The modules are designed
to be approximately 30 - 45 minutes in length.
The AFSAEF is accepting applications for the National Institute on Consumer Credit Management (NICCM) and the UNC Management Development Programs. More Details
The "Understanding Vehicle Financing" brochure is now available
through the AFSA Education Foundation (AFSAEF). The AFSAEF and
the National Automobile Dealers Association (NADA) produced the
brochure and prepared in cooperation with the Federal Trade Commission
(FTC).
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The Finance Industry Conference for Fixed-Income Investors will be hosting its 13th annual conference on May 6-8, 2003 in Chicago at the Hyatt Regency McCormick Place. This unique conference will provide complete updates on strategies and operations of over 20 leading finance companies along with timely educational sessions aimed at the fixed-income investor and networking opportunities. Canadian investors and analysts are invited to attend the conference. 
September 3-5, 2003 at the Embassy Suites Hotel, Phoenix, Arizona. U.S. Supreme Court Justice Sandra Day O'Connor will speak at the forum. The purpose of this meeting is to provide updates on issues affecting the industry at the state and local level. There is also a joint Administrators/Industry session with the National Association of Consumer Credit Administrators (NACCA) with the "Meet Your State Regulators Exposition." 
