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SEPTEMBER/OCTOBER 2004

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COVER STORY AFSA announced that 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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GOVERNMENT/REGULATORY AFFAIRS
Consumer education is the most effective way to deal with both excessive use of consumer debt and abusive lending, said Randy Lively, president and chief executive officer of AFSA in a hearing held by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. The hearing, which examined consumer perspectives on financial services issues, also looked at John Kerry's and John Edwards' plan to curtail lending abuses.
Read Testimony

That's what industry representatives and industry regulators alike had to say about the 6th annual AFSA State Government Affairs Forum, as well as the joint meeting with the National Association of Consumer Credit Administrators (NACCA).
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Over the past two months, the FTC and banking agencies have continued to push through the massive regulatory rulemaking requirements under the FACT Act. Whether or not all of the rulemakings will be completed by the statutory deadlines remains anyone's guess.
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INDUSTRY UPDATE
National/World Headlines
Citigroup and the Association of Community Organizations for Reform Now (ACORN) announced a landmark partnership that advances the goals of both organizations to promote homeownership in low- and moderate-income neighborhoods, especially in immigrant communities, increase the availability of affordable credit, and promote financial education.
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HSBC extended the HSBC brand across the majority of its U.S. and Canadian businesses, including Household International on October 5, 2004. This marks the final step in the integration of HSBC and Household.
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MEETINGS/CONFERENCES
The 88th AFSA Annual Meeting & Leadership Conference, titled "The Leadership Side of Politics," will be held at the Palace Hotel in San Francisco, California this October 23-26. We invite all AFSA members to attend!
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The 9th Auto Finance Conference & Exposition, held in conjunction with the National Automobile Dealers Association's (NADA) Convention & Exposition, will be held at the Ritz-Carlton Hotel in New Orleans, Louisiana on January 26-27, 2005.
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The 22nd Independents Conference & Exposition entitled "Winning Solutions for Independents" will be held April 11-14, 2005 at the Bellagio Resort & Casino in Las Vegas, Nevada.
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The 9th Marketing Forum will be held April 12-13, 2005 at the Bellagio Resort & Casino in Las Vegas, Nevada.
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Bob Zane
While AFSA's U.S. and European Investors Conference Advisory Boards have attracted many excellent speakers and strong attendance over the years, the association is devoting more resources to make both conferences even more successful. Bob Zane is coming on board as a consultant for the two conferences.
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Click here to see other AFSA meetings!
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AFSA NEWS
Read the interview
with Tom Hallman
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Fidelity National Loans
Arrow Financial Services, Fidelity National Loans, and Mavent are the latest companies to join the association.
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Members and their employees can receive up to a 12% discount on office and home computers.
     For more information go to www.dell.com/eppbuy or see the flyer.


FOUNDATION FOCUS


MoneySKILL teacher training will be offered to teachers, youth-serving professionals, and others interested in improving the financial literacy of New Jersey.
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The Wisconsin Office of Financial Literacy is also involved in this initiative to provide statewide teacher training in Wisconsin.
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