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COVER STORY  In a 4-3 decision issued January 31st, the California Supreme Court ruled in favor of AFSA in AFSA v. Oakland, holding that California's mortgage lending law pre-empts Oakland's mortgage lending ordinance. Once the court announced its decision, AFSA immediately issued a statement that described the ruling as "good news for California."
Read AFSA's full statement.
GOVERNMENT/REGULATORY AFFAIRS
 Senator Chuck Grassley (R-IA) introduced the Bankruptcy Reform Bill (S.256) to the Senate on February 1, 2005. Receiving bipartisan support, S.256 contains a needs-based formula that would direct filers into Chapter 7 or Chapter 13 based on their ability to pay. The bill contains many provisions that restore the principles of fairness and personal responsibility to our bankruptcy system.
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When sending prescreened solicitations, the industry must comply with the required notice to consumers regarding their right to opt out of prescreened solicitations for credit or insurance.
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 He replaces George McElwee, who left AFSA to become chief of staff for newly elected Representative Charles Dent (R-PA).
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 Freshman Florida Senator Mel Martinez is the lone new member of the Senate Banking Committee. Before running for Senate, Martinez served on President Bush's cabinet as Secretary of Housing and Urban Development.
See the full committee list
The 109th Congress will see ten freshman members (five Republicans, five Democrats) joining the committee, as well as two veteran Republicans, Rep. Deborah Pryce (OH-15) and Jim Gerlach (PA-06).
See the full committee list
INDUSTRY
UPDATE
National/World Headlines
Experian Consumer DirectSM, the leading provider of online direct-to-consumer credit reports and products, announced the results of a nationwide study on the effects of debt on consumer credit scores.
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New Century Financial Corporation on February 7 announced the launch of the company's first corporate branding initiative.
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MEETINGS/CONFERENCES
Speaking at AFSA's 9th Annual Vehicle Finance Conference and Exposition, DaimlerChrysler Services Americas President and CEO Klaus Entenmann outlined a unique set of challenges facing the automotive finance industry.
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 The 22nd Annual Independents Conference and Exposition will be held on April 11-14, 2005 at the Bellagio Resort & Casino in Las Vegas, Nevada. Registrations are coming in and exhibitors are signing up. The schedule is full of timely and informative sessions built around the theme: Winning Solutions for Independents. Also being held in conjunction with the Independents Conference will be the Marketing Forum providing independents and suppliers the opportunity to participate in both meetings at once, saving time and money!
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Dr. Michael LaTour of the University of Las Vegas' Marketing Department, Jan Jones of Harrah's Entertainment and Jerry Ceresale of the Direct Marketing Association are among the speakers for the 9th Marketing Forum held on April 12-13, 2005 at the Bellagio Resort & Casino in Las Vegas.
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 AFSA hosts the fifth Finance Industry Conference for European Fixed Income Investors on April 26-27, 2005 in Amsterdam.
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 New Two-Day Format!
The Finance Industry Conference for Fixed Income Investors will be celebrating its 15th year on May 17-18, 2005 in Boston.
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AFSA
NEWS
 Hallman's remarks focused on the association's accomplishments in 2004 and challenges ahead in 2005.
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 Donald S. Gottwald, Managing Director of Saab Financial Services Corp., Nuvell Private Label Financial Services and American Suzuki Financial Services Company, is the new Chairman of the AFSA Vehicle Finance Division Advisory Board.
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The AFSA Vehicle Finance Advisory Board welcomes four new members.
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 From the smallest independent operators to the largest international companies, AFSA members have provided an outpouring of support for relief efforts following the December 26th Tsunami in South Asia.
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Cypress Credit, Inc. and Titan Financial Group join as new active members. Allied Business Systems, Archway Marketing Services, Bank of America Auto Group, Black Book National Auto Research, Curomax Corporation, Interlink Electronics, and Postlethwaite & Netterville are the newest associate members. Travelers Leasing Corporation is the newest foreign member.
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Three new members join the AFSA Board.
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FOUNDATION
FOCUS
According to this legislation, AFSAEF will receive the grant under the Fund for the Improvement of Education (FIE) program for MoneySKILL, an online personal finance curriculum aimed at the millions of high school students who graduate each year without an understanding of credit cards, budgeting, insurance or other money management fundamentals.
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AFSAEF Receives a
$150,000 grant from HSBC
AFSAEF received a $150,000 grant from HSBC–North America to help deliver MoneySKILL to classrooms nationwide.
 AFSAEF is now accepting registrations for the UNC Management Development Program, and the National Institute on Consumer Credit Management. This year, registrations can be submitted online.
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