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AFSA NEWS
AFSA said it will host seminars throughout the country for the financial services industry as it gets up to speed on the many new compliance requirements for creditors under the Fair and Accurate Credit Transactions (FACT) Act.
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William M. Himpler is the American Financial Services Association's (AFSA) new senior vice president for federal government affairs, the association announced June 15.
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The October meeting of AFSA's Board of Directors in San Francisco will include two new faces: Brent Rippentrop of John Deere Credit, and Suneet Paul of Dell Financial Services.
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AFSA is pleased to announce the new chair and co-vice chairs of this committee of professional interest. George Halloran, vice president of the Global Strategic Planning for Ford Financial, will chair the committee along with co-chairs Steven Hess of Centex Home Equity and Dan Barnett of Household International.
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Standard and Poor's announcement on May 14 requiring additional credit enhancement for certain loans governed by anti-predatory lending laws could affect credit options for needy borrowers.
"S&P's decision comes as no shock—indeed we have been predicting such a reaction for some time," said AFSA president and chief executive officer Randy Lively.
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Regulatory Agency Representatives
Meet with AFSA Accounting Committee
The AFSA Accounting Committee met on May 20 and 21. Speakers for this annual meeting included individuals from AICPA, Deloitte & Touche, FASB, PCAOB, Reznick Fedder & Silverman, and the SEC. The group discussed issues including the allowance for credit losses, stock compensation, PCAOB (public company accounting oversight board), SEC reporting requirements, current events at the FASB, and a Sarbanes-Oxley update.
Human Resources (HR) executives from national and independent AFSA member companies participated in the AFSA HR Committee's forum, held May 19-20 at the Charleston Place Hotel in Charleston, SC. The forum's purpose was to discuss current challenges facing HR in the financial services industry.
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Robert B. Zane received an AFSA Appreciation Award on May 11th during the opening session of the association's 2004 U.S. Finance Industry Investors Conference.
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AFSA State Government Relations will host and staff a booth at the upcoming meeting of the National Conference of State Legislatures.
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