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SEPTEMBER/OCTOBER 2003

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INDUSTRY UPDATE

Capital One and consumer advocacy group Consumer Action announced that their joint MoneyWi$e financial literacy partnership provided a free two-day training seminar to more than 80 non-profit groups from communities across Texas on October 1, 2003.
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Fostering its commitment to youth education, Option One Mortgage has recently made a gift of $200,000 to the Orange County, Inland Empire Chapter of Junior Achievement. The contribution is among the largest in the chapter's history, according to an announcement by Dennis Young, president of JA of Orange County and The Inland Empire.
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China has announced the final version of its auto finance regulations, fulfilling a key commitment made upon its World Trade Organization (WTO) entry at the end of 2001. The Administrative Rules Governing Auto Financing Companies, released by the China Banking Regulatory Commission (CBRC) on Saturday, set forth auto financing companies' (AFCs) functions, their incorporation requirements, the steps for change or termination, their business scope and penalties for non-compliance.
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