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The auto finance industry's push for a national standard that provides specifications for auto finance electronic contracting took a major step forward when the standard received approval from an accredited standards developer for financial services. The Accredited Standards Committee (ASC) X9, Inc., the organization accredited by the American National Standards Institute (ANSI) to develop financial services standards, voted for the new standard on May 14, culminating a six-week voting period that began April 2nd and a developmental process launched by AFSA in January 2003. The standard now moves on to its final stage: a 45-day public review period that ends on July 12.
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