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NOVEMBER/DECEMBER 2004

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COVER STORY The AFSA Vehicle Finance Division (formerly the Auto Finance Division) and AFSA Education Foundation will once again co-sponsor the conference. This year's theme is "Driving the Future of the Vehicle Finance Industry." Sessions will focus on key issues and challenges impacting the current environment and future of the vehicle finance industry. Thought-provoking sessions will address AFSA's initiatives to help vehicle finance members continue to operate in a fair marketplace.
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GOVERNMENT/REGULATORY AFFAIRS
AFSA President/CEO Randy Lively issued a statement commenting on the hearing.
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As a result of the elections, the vast majority of states continue to have divided control between the legislature and the governorship. This split will remain as a key driving force affecting state legislative activity.
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Following a public comment period, the Federal Trade Commission has issued its final rule regarding the proper disposal of consumer report information and records. The final rule will become effective on June 1, 2005.
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Consumer reporting companies are required to notify consumers of their rights under FACTA and steps they can take to protect themselves against identity theft and difficulties resulting from identity theft.
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INDUSTRY UPDATE
National/World Headlines
The Administrative Office of the U.S. Courts reported on the number of bankruptcy cases filed in federal courts during Fiscal Year 2004.
Press Release

Chart of Bankruptcy Court Cases

Capital One Financial Corporation announced it will acquire HFS Group, one of the United Kingdom's leading home equity loan brokers.
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CIT Small Business Lending Corporation, a subsidiary of CIT Group Inc., announced that it was awarded Top Volume Lender status by the U.S. Small Business Administration (SBA) among lenders of SBA loans for fiscal year 2004.
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DaimlerChrysler Services has received initial approval from the China Banking Regulatory Commission (CBRC) to set up a vehicle financing company in China.
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MEETINGS/CONFERENCES
"The Leadership Side of Politics" included speakers Fred Thompson, former Republican senator, Tucker Carlson of CNN's Crossfire and former Republican congressman Dick Armey.
Fred Thompson Tucker Carlson Dick Armey
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This year's Distinguished Service Awards, Merit Manager and Lifetime Achievement Awards were presented at AFSA's Annual Meeting and Leadership Conference.
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Former aide to President Reagan Michael Deaver and former Atlanta Braves player Dale Murphy headline the conference, scheduled for April 11-14, 2005 at the Bellagio Resort & Casino in Las Vegas, NV.
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AFSA's 2005 Marketing Forum, slated for April 11-12 at the Bellagio in Las Vegas, is shaping up to be action packed, with speakers from the Direct Marketing Association and Harrah's Entertainment expected to be part of the program.
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The meeting will take place at the Hilton Amsterdam, The Netherlands. Seventeen companies have confirmed their participation as of early December.
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The conference will take place May 17-18, 2005 at Westin Copley Place, Boston, Massachusetts.
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To see a calendar of future AFSA meetings and events, please go to www.afsaonline.org/meetings. For other meetings information, please call the AFSA meetings department at (202) 296-5544 or check the AFSA Web site.

 
AFSA NEWS
Jim Gazdecki, vice president of government relations for Option One Mortgage Corporation based in Irvine, CA, is the new chair of the association's division for mortgage lending companies.
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Fourteen members comprise the 2005 Mortgage Lending Advisory Board.
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AFSA president and CEO Randy Lively was a speaker for a December 2nd Consumer Federation of America (CFA) panel on vehicle financing held during CFA's annual Financial Services Conference.
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Jim Farmer, who is retiring from GMAC Financial Services as Vice President, Merchandising, Advertising & Communications, received an AFSA Appreciation Award during a meeting of the AFSA Marketing Committee held October 26 in San Francisco as part of the 2004 Annual Meeting and Leadership Conference.
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American Honda Finance Corp., Grenada Loans, Inc. and World Omni Financial Corp. are the newest active members. AFSA also welcomes Arrow Financial Services, CPP North America, DocMagic, Inc. and Mavent Inc. as associate members.
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Kathryn
Marczak
Kathryn Houting Marczak is Harley Davidson Financial Services' new representative on the AFSA Board of Directors. She replaces Donna Zarcone, AFSA's immediate past chair.
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FOUNDATION FOCUS

AFSAEF and Put It Up, Inc. announced a strategic partnership to deliver financial education to "at risk" youth in Los Angeles.
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Professor Lew Mandell, author of AFSAEF's MoneySKILL program, gave the keynote address to the Business Teachers Association of New York State annual convention held in Niagara Falls.
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Educators at Menominee Indian School District (MISD) had the opportunity to participate in MoneySKILL training as part of the Building Native Communities—Train the Trainer workshop—on December 1-2, 2004.
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Jump$tart Coalition to Celebrate
10th Anniversary in 2005
Jump$tart's 10th anniversary awards dinner will be held on Wednesday, April 6, 2005 at the Hyatt Regency on Capitol Hill. The celebration will acknowledge advancements in personal financial education for America's youth.

In a news release issued to personal finance and business reporters nationwide, the Foundation pointed out that it's easy to see why some consumers are duped by email known as "phishing."
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