Today's Headlines

    Compliance Tech the Focus of Upcoming AFSA Webinar

    Join AFSA on Tuesday, May 15 at 2 p.m. ET for Bottom Up Compliance Technology presented by defi SOLUTIONS.

    Adding compliance as an afterthought or feature does not offer lenders the robust compliance needed in today’s regulatory world. Compliance needs to be built from the ground up. This program will help lenders learn what the latest technology has to offer to increase compliance while decreasing cost. Presenters include: Branan Cooper, Chief Risk Officer, vanminder; Lana Johnson, Chief Technology Officer, defi SOLUTIONS; and, Brian Larson, Consumer Lending Expert, Compli.

    AFSA members can register for this and other upcoming webinars via the Webinar Resource Center.

    AFSA's Business Partner Webinar series allows industry experts to share timely, educational topics directly with AFSA members. The webinars are designed to provide information that will allow AFSA members to more effectively design, develop and implement strategies for their companies’ success. If you are a Business Partner and interested in participating, review the Business Partner Webinar Flyer for more information.

    AFSA Publishes Electronic Notarization White Paper

    AFSA Staff

    On May 1, AFSA’s State Government Affairs department published its electronic and remote online notarization white paper. AFSA’s white paper examines the differences between the electronic and remote notarization processes and includes definitions of key terms. The white paper also looks at model bills from industry and other trade groups—such as the National Notary Association’s Model Electronic Notarization Act of 2017—that are driving change at the state level. Finally, the white paper provides an overview of recent state legislation to update existing state notary laws and notes which states have previously enacted remote or electronic notary changes.

    Remote online notarization is still in its infancy, and each state is approaching the practice from a slightly different perspective. AFSA is concerned that the current lack of uniformity may be exacerbated by differing model legislation from various stakeholders. AFSA is committed to monitoring this issue closely on behalf of its members.

    AFSA’s State Government Affairs team publishes white papers monthly, and members can find previous papers on AFSA’s website under the SGA Resources section.

    Parscale’s digital savvy paved the way for Trump’s road to the White House

    Several years ago, Brad Parscale found himself faced with the biggest challenge of his marketing and advertising career: get Donald Trump elected president.

    Little did he realize that Parscale would become Trump’s secret weapon and engineer the biggest political upset in U.S. history, with Trump knocking off established Republican politicians in a bruising primary season before defeating Hillary Clinton, the first woman nominated to run for President and the presumptive favorite.

    “We needed to connect with millions of Americans for someone who had absolutely no established political campaign structure,” Parscale told the 500+ executives yesterday at the American Financial Services Association’s 35th annual Independents Conference and Expo in Fort Lauderdale. “The other candidates already had those political organizations in place from other campaigns.”

    Parscale, whose career started by making cold calls to design and sell websites back before the digital and social media revolution, in 2016, was named Digital Director for the Donald J. Trump for President campaign, where he was responsible for developing, implementing and managing all facets of the entire campaign marketing strategy. He was recently named the Campaign Manager for Donald Trump for President 2020.

    “The 2020 campaign is going to be a giant marketing show,” he said. “And we have years to prepare for it, not just a few months.”

    Using the three pillars of Marketing and Advertising: Audience, Creative and Distribution, Parscale said Facebook was the way for him to connect Trump’s message to millions of Americans through the social network’s affinity tools.

    With those tools, he could target certain demographics in certain states or regions of the country with Trump’s messaging.  As a result, Parscale said, the Trump campaign placed 5.9 million digital ads vs. 66,000 digital ads placed by the Clinton campaign, a staggering marketing advantage.

    Parscale’s uncanny digital savvy enabled him to orchestrate, from behind the scenes, Trump’s string of primary victories and his eventual knockout of Clinton in the general election.

    Parscale was interviewed at the AFSA conference by Brad Noel, Executive Vice President, Director of Branch Operations, Republic Finance, and the newly-elected chair of AFSA’s Independents Section.

    Photos from the 2018 Independents Conference & Expo are now available on the conference website!

    Changes to the AFSA Board of Directors Leadership

    AFSA Staff

    At its April 24 AFSA Board of Directors meeting, the board unanimously approved the election of Josh Johnson, President & CEO of Mariner Finance, LLC, as the Chairman-Elect of the Board to succeed Ginger Herring, President & CEO, 1st Franklin Financial Corporation at the Annual Meeting in October in Los Angeles. Dale Jones, EVP, The Americas, Global Operations & Quality for Ford Motor Credit Company was elected Vice Chairman & Treasurer.

    Marc Womack, Chief Operating Officer of TD Auto Finance, LLC, was elected to serve on the AFSA Board of Directors replacing Andrew Stuart, President & CEO TD Auto Finance, who stepped down due to additional responsibilities at TD Bank.

    AFSA Submits Comment on Bureau’s 1st RFI

    AFSA Staff

    The Bureau of Consumer Financial Protection issued a call for evidence to ensure the Bureau is fulfilling its proper and appropriate functions to best protect consumers. The Bureau published in the Federal Register a series of Requests for Information (RFIs) seeking comment on enforcement, supervision, rulemaking, market monitoring, and education activities. These RFIs provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.

    On April 27, AFSA submitted its comments in response to the first RFI on the Bureau’s civil investigative demands (CIDs) and associated processes. AFSA wrote, “The proper role of CIDs are as one investigative tool within the enforcement regime. There are a variety of investigative tools that the Bureau could use, and it is more efficient and effective to use all the tools rather than this single process.”

    AFSA explained that CIDs are expensive, time-consuming and often inefficient. The association gave the Bureau a number of recommendations that it believes would improve efficiency and effectiveness, as well as reduce unnecessary costs, burdens, and unintended consequences to the Bureau and the subjects of investigations.

    AFSA is currently working on drafting responses to the other RFIs, including one on the adjudication process, which will be submitted on May 7.

    Inspiration, Leadership celebrated at Champions Club Luncheon

    AFSA Staff

    Col. Nicole Malachowski (USAF, Ret.), a combat veteran and the first female pilot for the Thunderbirds Air Demonstration Squadron, spread her inspirational message of endless perseverance and learning from setbacks at two venues last week at AFSA’s 35th Annual Independents Conference & Expo in Fort Lauderdale, Fla.

    First at the AFSA Women’s Leadership Council (WLC) in a Question & Answer format with WLC Chair Kristin Karwat, CEO of Gateway Financial Solutions, conducting the interview; then later as the Keynote speaker at the Champions Club Luncheon.

    Col. Malachowski told both groups her experience of seeing the Thunderbirds for the first time as a 5-year old at an airshow with her father and telling him she wanted to fly those jets someday.

    In the Women’s Leadership Council she shared advice focused on ideas such as:

    ·         Always remember the art of the possible

    ·         Put a voice to your dreams by saying your goals out loud

    ·         Don’t lead an unscripted life or one scripted for you by others

    On her response to failure, she compared failure to headwinds that pilots fly into to assist them on takeoffs.

    “Take responsibility for failure,” she said at the luncheon. “Reach out to mentors; they’ve failed before, too.”

    Finally, she said, keep your goals top of mind.

    “Don’t lose sight of the big picture,” she advised.

    Col. Malachowski flew combat missions in Kosovo and Iraq and also served as a fighter squadron commander in her 21-year career in the Air Force.

    She later served as a White House Fellow and subsequently as an adviser to presidents George W. Bush and to Barack Obama. She was inducted into the Women in Aviation International Pioneer Hall of Fame Museum in 2008.

    She retired from the USAF at the end of last year and has been speaking as an ambassador for the USAF for over 10 years. Topics she covers include leadership, creating a high-performance culture, managing disruptive change and overcoming obstacles to success.

    The AFSA Outstanding Employee Awards were also presented at the Champions Club Luncheon. The awards are given to individuals who been selected by their companies for their outstanding performance and customer service. This year’s winners are: Heather Blackmon, World Acceptance Corporation; Keith Blair, World Acceptance Corporation; Ashley Gibbons, World Acceptance Corporation; Katie Kammerich, Heights Finance Corporation; Tamara McQueen, 1st Franklin Financial Corporation; Cindy McRaney, Republic Finance, LLC; and, Mary Vitela, Brundage Management/Sun Loan Company.