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COVER STORY AFSA's 8th Auto Finance Conference and Exposition, held January 28-30 at The Ritz-Carlton Hotel-Lake Las Vegas in Henderson, NV attracted over 250 attendees. Meeting sessions covered such topics as financial literacy and legal/regulatory issues affecting credit providers, dealers and consumers. Among the speakers were Mike Jackson, chairman and chief executive officer of AutoNation and Allan Gilmour, vice chairman of Ford Motor Company.
Read Gilmour's speech
Allan Gilmour, vice chairman of Ford Motor Company,
speaks at AFSA's 2004 Auto Finance Conference.
GOVERNMENT/REGULATORY AFFAIRS
The 2004 state legislative year is filled with issues of concern for the financial services industry.
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A poll conducted at the end of 2003 revealed a majority of people oppose the state legislation if it means a reduction in their choices as borrowers.
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On January 26, 2004 New York City Mayor Michael Bloomberg and AFSA, as a co-plaintiff, won a summary judgment in the lawsuit against the New York City Council.
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In a strong showing which may indicate the Court's recognition of the importance of the issues raised, the California Supreme Court on December 23 agreed to hear the AFSA case against Oakland.
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Ohio Court Restores Cleveland Ordinance
In an apparent show of deference for the City of Cleveland in the case of AFSA v. Cleveland, on January 15 the Appeals Court restored Cleveland's ordinance. Thus, the Ordinance it is effective, pending the ongoing appeal. Though surprised by this ruling given the strong momentum in favor of state preemption of municipal ordinances in this area in the state of Ohio, we do not interpret this action as an indication of how the Appellate Court will ultimately rule on the merits of the case. The court's decision will have an effect on those companies which have either resumed operations in Cleveland, or had been gearing back up to do so.
INDUSTRY
UPDATE
National/World Headlines
Countrywide Home Loans, Inc. and Paragon Financial Resources, announced February 10 the formation of Paragon Financial Mortgage, an operating division of Countrywide Mortgage Ventures, LLC. With more than 130 loan programs available, qualified home buyers have options that include zero down payment loans, an especially attractive benefit for transferees who have yet to sell their existing home. The company also offers a variety of fixed and adjustable rate options with optimum flexibility on rate and terms.
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Option One Mortgage Corporation, one of the nation's leading residential mortgage lenders, today announced updated best practices for its wholesale and retail loan origination businesses, including H&R Block Mortgage Corp., and its mortgage servicing operation.
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MEETINGS/CONFERENCES
 Under the theme "It's All About the Customer," AFSA's 9th Annual Marketing Forum will include sessions on Customer Relationship Management (CRM), Customer Issues Driving Legislative/Regulatory Developments and Getting in Touch with the Financial Services Customer. Among the speakers is Robert Littell, president of Littell Consulting, whose presentation will cover "NetWeaving: Building Meaningful Relationships One Connection at a Time." Held in conjunction with the Independents Conference, the Marketing Forum provides independents and suppliers the opportunity to participate in both meetings—saving time and money.
See a preliminary program and/or register
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AFSA
NEWS
WASHINGTON...... Continuing their efforts to increase consumer understanding of vehicle financing, three trade associations representing many of the nation's auto finance companies and financial institutions and most of the nation's auto dealerships today announced their support for a voluntary disclosure that tells consumers they may be able to negotiate the Annual Percentage Rate (APR) when they buy a car from a dealership.
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WASHINGTON...... A trade association for many of the nation's auto creditors today announced that its members will add a new statement to their vehicle financing contracts that tells consumers they may negotiate the Annual Percentage Rate (APR) when they buy a car or light truck from a dealership.
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AFSA is pleased to welcome its two newest Board members, Chris Ballinger of Toyota Financial Services and Timothy Stanley of Heights Finance Corporation.
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AFSA's newest Active and Commercial members include Dell Financial Services and Personal Finance Company. AFSA is also proud to welcome five new associate members: eOriginal, Inc; FDI Collateral Management; E-Tax Partners; phase2e; Road America Motor Club.
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FOUNDATION
FOCUS
AFSAEF received a $75,000 grant from The J.P. Morgan Chase Foundation to cultivate teacher experience with MoneySKILL. This project will go to major east coast cities such as New York City, New Haven, CT and Newark, New Jersey to recruit teachers representing diverse student bodies.
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 "Understanding Vehicle Financing" was developed to educate consumers on the basics of vehicle financing, evaluating their own financial situations before financing a new or used vehicle, and the basics of leasing.
More Details Secretary of the Treasury John Snow chaired the first meeting of the Financial Literacy and Education Commission on January 29, 2004. Representatives of twenty federal departments, agencies, and commissions participated in the meeting.
More Details | Fact Sheet AFSAEF is now accepting registrations for the UNC Executive Leadership Program, the UNC Management Development Program, and the National Institute on Consumer Credit Management.
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The 21st Annual Independents Conference and Exposition will be held on March 24-27, 2004 at the Renaissance Esmeralda Resort in Indian Wells, California. Timely, must-hear informative sessions will concentrate on the conference theme of Strategies for the 21st Century. AFSA is offering discounted fees for two or more registrants from the same company and discounts for Independent Section members as well. Pre-Conference Operations Workshops will be offered on March 24—plan to arrive early! 
AFSA will host the fourth Finance Industry Conference for European Fixed Income Investors on April 28-29, 2004 in Amsterdam. This will be another opportunity for European investors to learn the strategies and accomplishments of over a dozen leading finance companies during individual workshops in two days. Paul McCulley, Managing Director with PIMCO/Allianz, will give the keynote address.
The Finance Industry Conference for Fixed Income Investors will be celebrating its 14th successful year on May 11-13, 2004 in Washington, D.C. Stan O'Neal, Chairman of the Board & CEO, Merrill Lynch & Co., Inc. is the keynote speaker. This unique conference will provide complete updates on strategies and operations of over 20 leading U.S. finance companies along with timely educational sessions aimed at the fixed income investor and networking opportunities.
