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AFSA Launches Compliance Committee

Washington, August 20, 2013 …The financial services industry has been faced with a slew of new rules and regulations since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. To help its members prepare for and respond to the vast amount of new regulatory requirements, the national trade association for the consumer credit industry has dedicated a new committee to address compliance concerns.
 
The purpose of the American Financial Services Association’s (AFSA) Operations and Regulatory Compliance Committee (ORCC) is to address the policies, guidance, enforcement actions and regulations issued by federal government and agencies that impact the association’s members.
 
“Complying with the volume of new regulations coming out of Washington is a time consuming and labor intensive process,” said Chris Stinebert, AFSA President and CEO. “Companies are looking for answers, and the ORCC aims to provide them. This new committee assists our member companies deal with many of the compliance issues they face by developing industry resources and educational materials.”
 
The committee is chaired by John Noone, retired president of Ford Motor Credit and principal of Noone Consulting Group, LLC. Noone served as the 2011-2012 AFSA chairman.
 
Based in Washington, D.C., AFSA (www.afsaonline.org) is the national trade association for the consumer credit industry, protecting access to credit and consumer choice. Its 350 members include consumer and commercial finance companies, auto finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry suppliers.
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Media Contact:
Karen Klugh
202-776-7308


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