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Randy Lively
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The Home Mortgage Disclosure Act's (HMDA) new reporting requirements were the focus of a highly informative symposium held March 14 by Georgetown University's Credit Research Center. The National Association of Attorneys General (NAAG) held a panel discussion on HMDA at its spring meeting on March 14-16, 2005. AFSA President Randy Lively participated in the HMDA panel.
Read the remarks of AFSA's President, Randy Lively
The federal bank, credit union, and thrift supervisory agencies, along with the Department of Housing and Urban Development (HUD), on March 31 released a set of "Answers to Frequently Asked Questions" (FAQs) that address the new home loan price data disclosed this year for the first time under HMDA.
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GOVERNMENT/REGULATORY AFFAIRS
 AFSA applauds the bipartisan efforts of Congress to reform the bankruptcy system in America by passing S.256, "The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," on April 14th.
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AFSA applauds the passage of the Class Action Fairness Act by both the House and Senate, and the subsequent signing into law by President Bush in February.
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The bipartisan New Responsible Lending Act was put forth by Representatives Bob Ney (R-OH) and Paul Kanjorski (D-PA) to protect borrowers from abusive mortgage lending practices.
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Paul Kanjorski
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Bob Ney
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On March 16 the General Accounting Office (GAO) released a report mandated by the FACT Act on consumers' understanding of their credit scores. The GAO surveyed 1,578 consumers.
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INDUSTRY
UPDATE
National/World Headlines
Option One Mortgage Corporation recently partnered with two leading organizations to educate credit counselors on how to help their clients understand mortgage lending and retain their homes.
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MEETINGS/CONFERENCES
Over 400 people registered for this year's meeting at the Bellagio Resort & Casino. Guest speakers included former special assistant to President Reagan, Michael K. Deaver and former Atlanta Braves player Dale Murphy. Business speaker Tony Allesandra addressed the group and moderated a "winning solutions" panel of Independent CEOs.
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Michael Deaver |
Dale Murphy |
Tony Allesandra |
Dr. Michael
LaTour
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The presentation by Dr. Michael LaTour, chairman of the marketing department at the University of Las Vegas, was one of many outstanding sessions for this year's Forum, held April 12 and 13 at the Bellagio.
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Dr. Norbert
Walter
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With 14 presenting companies and over 20 sponsors, the meeting is shaping up to be the best ever. Keynote speaker Dr. Norbert Walter with Deutsche Bank will deliver his address on the first day.
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The conference is scheduled for May 17-18, 2005 in Boston.
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AFSA
NEWS
TFC Credit Corporation comes on board as the newest active member while Lazenby and Associates joins as an associate member.
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FOUNDATION
FOCUS
AFSAEF's Irvine Receives
Jump$tart's Odom Award
Susie Irvine, President and CEO of the AFSA Education Foundation, was the 2005 recipient of the Jump$tart Coalition's William E. Odom Visionary Leadership award. The award is given each year to an individual who represents the finest in youth financial literacy education. Irvine received the award at the annual Jump$tart award's dinner, attended by over 300 people. Among the speakers were Senator Jon Corzine (D-NJ) and Representative Judy Biggert (R-IL).
William Odom, Susie Irvine & Dr. Lewis Mandell
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CIT Provides $60,000 Grant to AFSAEF
The grant will to help deliver MoneySKILL to classrooms nationwide. Tom Hallman, vice chairman Specialty Finance, CIT, and current chair of AFSA, presented a check to the foundation in February.
 AFSAEF is now accepting registrations for the University of North Carolina Management Development Program and the National Institute on Consumer Credit Management at Marquette University. Registrations may be submitted online this year.
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The Oregon Senate Education and Work Force Committee held a March 21 hearing on financial literacy and SB 748, one of the bills introduced in this area. AFSAEF's Susie Irvine was one of the witnesses at the hearing.
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To date, more than 200 teachers and 155 administrators in Wisconsin have received training on the MoneySKILL curriculum at education forums ranging from teacher union meetings to events for statewide school district administration organizations.
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