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 MARCH/APRIL 2003

HOME | CREDIT ARCHIVES

AFSA POLL
Previous Poll Results

Bankruptcy Reform


With the bankruptcy reform legislation soon to become law, do you expect to see a spike in personal bankruptcy filings over the next few months?

Total Votes: 435
  Yes 7 2% 2%
  No 1 0% 0%
  Vehicle financing 5 1% 1%
  Data security 3 1% 1%
  Abusive mortgage lending 2 0% 0%
  Implementation of the new bankruptcy law 1 0% 0%
  None of the above 1 0% 0%
  Yes 10 2% 2%
  No 3 1% 1%
  Yes 1 0% 0%
  I've never checked my credit report 7 2% 2%
  Within the last six months 5 1% 1%
  Within the last year 5 1% 1%
  Within the last five years 2 0% 0%
  Yes 13 3% 3%
  No 6 1% 1%
  Fair 5 1% 1%
  Good 4 1% 1%
  Excellent 3 1% 1%
  Poor 3 1% 1%
  Asked for a fraud alert to be placed on my credit file 1 0% 0%
  Yes 5 1% 1%
  No 2 0% 0%
  Yes 2 0% 0%
  Yes 8 2% 2%
  Very High 5 1% 1%
  Fairly low 2 0% 0%
  No 2 0% 0%
  Fairly high 1 0% 0%
  In the middle 1 0% 0%
  Very Low 1 0% 0%
  Yes 1 0% 0%
  Yes 5 1% 1%
  No 1 0% 0%
  More than $300 1 0% 0%
  Excellent 20 5% 5%
  Excellent 18 4% 4%
  Poor 1 0% 0%
  Poor 1 0% 0%
  No 7 2% 2%
  Yes 2 0% 0%
  No 13 3% 3%
  Yes 9 2% 2%
  Don't Know 4 1% 1%
  The borrower 19 4% 4%
  The lender 9 2% 2%
  No 23 5% 5%
  No 14 3% 3%
  Yes 13 3% 3%
  Yes 4 1% 1%
  Yes,No 3 1% 1%
  Yes 24 6% 6%
  No 14 3% 3%
  Don't Know 3 1% 1%
  The 8 2% 2%
  At home through parents or other relatives 5 1% 1%
  Bankruptcy reform 22 5% 5%
  John Kerry 20 5% 5%
  George Bush 15 3% 3%
  Abusive mortgage lending 5 1% 1%
  Vehicle financing 3 1% 1%
  HMDA's new reporting requirements 1 0% 0%
  All of the above 11 3% 3%
  Change internal procedures used by companies 2 0% 0%
  Educate consumers on ways they can reduce exposure of sensitive personal data 1 0% 0%
  Pay cash rather than use financing? 6 1% 1%
  Finance it at a dealership? 3 1% 1%
  Obtain financing directly from a finance company, bank or credit union? 3 1% 1%
  Lease your vehicle rather than buy it? 2 0% 0%
  Other 2 0% 0%

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?

Total Votes: 25
  No 6 24% 24%
  Not sure 10 40% 40%
  Yes 9 36% 36%

Financial Services in 2002

What do you think is 2002's most significant issue affecting the operations of financial services companies?

Total Votes: 6
  All of the above 1 17% 17%
  Corporate disclosure/consumer confidence in corporations 2 33% 33%
  Rising consumer bankruptcies 2 33% 33%
  The current economy/consumer concerns about unemployment 1 17% 17%

Trade Association Benefits

What do you think is the greatest benefit of belonging to a trade association?

Total Votes: 6
  Networking with peers from other companies 3 50% 50%
  Professional development opportunities 1 17% 17%
  Representation on government affairs, regulatory and legal issues 2 33% 33%

Rise in Personal Bankruptcies

What do you think was the most significant factor behind last year's rise in personal bankruptcy filings?

Total Votes: 6
  Anticipation of changes to federal bankruptcy laws 1 17% 17%
  Job losses/ economic prob- lems 5 83% 83%

Financial Services Online

Do you think consumers are conducting more, less or about the same number of online financial services transactions than they were a year ago?

Total Votes: 10
  More 10 100% 100%

Industry Challenges

What is the biggest challenge facing financial service companies these days?

Total Votes: 10
  Keeping pace with advancements in technology 1 10% 10%
  Legislative/ regulatory issues 9 90% 90%

Bankruptcy Reform

If the pending bankruptcy reform legislation becomes law, what do you think will be the outcome?

Total Votes: 13
  All of the above 4 31% 31%
  None of the above 6 46% 46%
  People who truly need bankruptcy relief will still be able to get it. 3 23% 23%

Supporting Recovery Efforts

What is the best way for financial services companies to support post-September 11th recovery efforts?

Total Votes: 12
  All of the above 5 42% 42%
  Encourage employee volunteerism 1 8% 8%
  Relax payment schedules and waive late fees for directly impacted customers 6 50% 50%

Tell Us What You Think About...
CREDIT EDUCATION

In your opinion, what's the most effective way to increase consumers' understanding of personal finance basics and the importance of responsible credit use?

Total Votes: 12
  Start the process early by offering personal finance education in the nation's schools 12 100% 100%

Privacy Notices

Do you think people are likely to read the annual privacy notices that financial services companies will have to provide to their customers starting July 1st?

Total Votes: 39
  No 36 92% 92%
  Yes 3 8% 8%

Revolutionary Financing Product

In your opinion, what has been the most revolutionary financing product created for consumers in recent history?

Total Votes: 21
  Credit cards 18 86% 86%
  Home equity loans 2 10% 10%
  Other 1 5% 5%

Part 2

In terms of your own company's level of customer service, would you say it is:

Total Votes: 9
  Average 2 22% 22%
  Better than average 4 44% 44%
  Worse than average 3 33% 33%

Consumer Finance Industry

In terms of its level of customer service, would you say the consumer finance industry is:

Total Votes: 19
  Average 1 5% 5%
  Better than average 6 32% 32%
  Outstanding 6 32% 32%
  Worse than average 6 32% 32%

Part 2

Do you think it's possible to have both in 2001?

Total Votes: 20
  No 5 25% 25%
  Yes 15 75% 75%

Financial Services Firms in 2001

In 2001, do you think financial services firms will benefit more from the full tax cut promised by the Bush administration or an easing of interest rates by the Federal Reserve Board?

Total Votes: 32
  Easing of interest rates 24 75% 75%
  Full tax cut 8 25% 25%

The Upcoming Election

Do you think the financial services industry will be better off under a Bush or Gore Administration?

Total Votes: 291
  Bush 134 46% 46%
  Gore 136 47% 47%
  No 6 2% 2%
  Undecided 9 3% 3%
  Yes 6 2% 2%

 
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