HOME | CREDIT ARCHIVES
COVER STORY
(From left, Terry J. Jorde, Independent Community Bankers of America, Robert E. McKew, American Financial Services Association, Arthur C. Johnson, American Bankers Association, and Kenneth J. Redding) Photo credit: Pablo Martinez Monsivais - AP
|
Opponents of industrial banks (also known as Industrial Loan Companies, or ILCs) are using the Wal-Mart Bank application for federal deposit insurance to call for ILC restrictions that could limit consumer choice and competition in the financial services industry, said AFSA in an April 10th public hearing held in Arlington, VA by the Federal Deposit Insurance Corporation (FDIC).
More Details
GOVERNMENT/REGULATORY AFFAIRS
A Montgomery County Circuit Court judge has set July 6 as the final hearing date for AFSA's lawsuit to nullify the county's mortgage lending ordinance. At a hearing held March 7th, the judge also granted a temporary injunction preventing the ordinance from going into effect while AFSA's legal challenge is underway.
AFSA's media statement (3/7/06)
AFSA's news release (2/10/06)
 Among the many bills now under consideration is HR. 3997, The Financial Data Protection Act of 2005 approved March 16th by the House Financial Services Committee. Included in this bill is a credit freeze provision that is modeled after Vermont's state law and sets a strong federal preemption applied to the rest of the state laws already enacted.
More Details
Although few measures have actually made it all the way to the governor's desk this year, many states are considering bills to allow consumers to freeze their credit files and bills requiring notices to be sent to affected parties in the event of a data breach.
More Details
On April 6, AFSA hosted a luncheon for the National Conference of State Legislatures (NCSL) Financial Services Committee during its annual Spring Forum in Washington, DC. Nearly 30 members and guests attended.
More Details
AFSA's annual State Government Affairs Forum and Administrators/Industry meeting will be at the Hyatt Regency Savannah on September 27-29, 2006. This forum and joint meeting has established itself as the AFSA "benchmark meeting of the year" for members interested in state legislative and regulatory issues and trends. For more information, contact Kara Gouda at kgouda@afsamail.org.
More Details
 The Federal Trade Commission's workshop, Protecting Consumers in the New Mortgage Marketplace, will focus on consumer protection issues arising from the growth of "nontraditional" or "alternative" mortgage products in the residential mortgage marketplace.
More Details
INDUSTRY
UPDATE
National/World Headlines
HSBC Retail Services, a business unit of HSBC North America, Inc., has entered into a strategic alliance to acquire the credit receivables of Boscov's Department Stores.
More Details
Bankruptcy filings in the federal courts skyrocketed 30 percent in calendar year 2005, according to data recently released by the Administrative Office of the U.S. Courts. In fact, it proved to be the largest number of bankruptcy petitions ever filed in any 12-month period in the history of the federal courts.
More Details
MEETINGS/CONFERENCES
Mickey Levy
|
With 17 presenting companies and more than 20 sponsors, the the 6th Annual Finance Conference in Europe is shaping up to be one of the best ever. Keynote speaker—Mickey Levy, Chief Economist with Bank of America—will deliver his address on the first day. A rating agency panel will cover market segments and will present the second day. In addition, small group discussions will be available again for investors to meet with senior executives from each of the presenting companies. The event will be held at the Hilton Amsterdam, in the Netherlands.
More Details
Ron Insana
|
Using small group discussions and shorter, formal presentations, the Baltimore conference provides a complete update on almost 20 leading finance companies in just two days. Back by popular demand is CNBC's Ron Isana, who will deliver the keynote address. In addition, all four rating agencies will be part of a panel at a luncheon on Wednesday. Register now for this premiere two-day industry event to be held at the Baltimore Marriott Waterfront.
More Details
More than 400 people attended the conference, whose theme was "Exploring Opportunities in a Challenging Environment." The conference took place at the Westin La Cantera.
More Details
"Great variety of topics," "excellent speakers this year" and "very informational" were among the comments provided by participants in the AFSA 11th Annual Marketing Forum, held on March 1-2, 2006 at the Hamilton Crowne Plaza Hotel in Washington, DC. Featured speakers included U.S. Representative Paul Kanjorski (D-PA), Tim Ruder, Vice President of Marketing with The Washington Post's online subsidiary as well as Tony Rome, President of Mavent Strategies on the subject of "Hip Hop" Marketing.
Speaker Presentations
|
 |
|
|
AFSA
NEWS
 Jeffrey E. Snyder, President & COO of Mission Financial Services in Orange, California is the 2006 recipient of AFSA's Outstanding Independent Award. Snyder received the award during this year's Independents Conference and Exposition held in San Antonio, TX.
More Details
More Details
FOUNDATION
FOCUS
The event is on Tuesday, April 25 in the Hart Senate Office Building.
More Details
 The results, released April 5th at a news conference held at the Federal Reserve in Washington, D.C., show that the average score for the 2005-06 survey was 52.4 percent, up marginally from 52.3 percent in the 2003-04 survey.
More DetailsExecutives from AFSA's member companies have a choice of three excellent programs taking place this year.
More
Details
So far, more than 800 new teachers have registered to use MoneySKILL, the AFSA Education Foundation's online personal finance curriculum for high school students during the 2005-2006 academic school year.
More
Details
|
Indicates
link outside Credit. Close new window to return.
