Federal Issues are the Focus of AFSA’s Second Podcast

The second podcast in AFSA’s recently-launched AFSA Today series is available at afsaonline.org/podcasts.

In this podcast, AFSA’s Jack Ferry, Vice President of Communications, interviews Bill Himpler, AFSA’s Executive Vice President and a Capitol Hill veteran, who leads AFSA’s Federal Government Relations team.

Himpler discusses the top issues on Capitol Hill affecting AFSA members from the Military Lending Act to activity at the Bureau of Consumer Financial Protection.

Among other topics, Himpler gives perspective on the bureau’s announcement last week, with four other federal agencies, on the role of supervisory guidance and how it does not have the “force and effect of law” and what that means for AFSA member companies.

“Traditionally, regulators have used guidance to answer questions from industry and industry has used guidance to operate in a regulatory framework,” Himpler says. “But when the BCFP issued Vehicle Finance Guidance under former Director Richard Cordray, it created a whole new policy on how dealers are compensated for arranging vehicle financing. The announcement last week was a breath of fresh air.”

That guidance was rescinded last year by a vote in the Senate under the Congressional Review Act (CRA).

The goal of the podcast is providing an additional communications channel to keep AFSA member companies informed on issues facing the consumer credit industry, ranging from the impact of federal and state legislation and regulation, to the rapid pace of technology, to the political landscape in Washington DC and around the nation.

This is an opportunity for AFSA to increase the value of membership in the association and also to increase the level of engagement with members.

The next podcast will be a conversation with Danielle Fagre Arlowe, AFSA’s Senior Vice President and head of the State Government Affairs team. She will cover hot-button issues at the state level affecting AFSA member companies.