Founded in 1916, the American Financial Services Association (AFSA) is the national trade association for the consumer credit industry, protecting access to credit and consumer choice. The Association encourages and maintains ethical business practices and supports financial education for consumers of all ages.

The AFSA Vehicle Finance Division supports member companies involved in the indirect financing and leasing of new and used vehicles through various initiatives at the federal and state levels. These initiatives include representation on Capitol Hill and in state capitals, outreach and engagement with regulatory agencies, conferences and forums focused on the industry, and proactive media relations programs.

As a result of these initiatives, AFSA provides its members a forum for analysis and response to regulatory and legislative issues through awareness, education and the exchange of ideas relevant to providing access to credit in the vehicle finance industry.

The division includes over 100 companies including: captive vehicle finance companies, auto finance subsidiaries of banks, independent auto finance companies and dealer finance companies – retail and wholesale.

Chaired by Charles W. (Chuck) Jones, Head of National Indirect Lending, SunTrust Banks, Inc., the Vehicle Finance Division Board of CEOs and top management ensures that the division stays focused on issues of critical importance to members.

ABOUT THE AFSA VEHICLE FINANCE DIVISION

LEGAL AND LEGISLATIVE AFFAIRS TO BENEFIT VEHICLE FINANCE COMPANIES

Protecting Credit Since 1916

AFSA leads many national legislative and regulatory efforts in Washington that affect vehicle finance companies including fair lending issues by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) as well as arbitration, voluntary protection products, compliance, cyber-security, leasing, lending to the military, modernizing the Telephone Consumer Protection Act (TCPA), negative equity, risk-based pricing, privacy issues and titling.

The indirect lending model is under attack by federal regulators. AFSA remains the only organization defending industry practices to Congress and the federal agencies.

The Trump Administration, as well as the 115th Congress, provides AFSA with a unique opportunity to shift its focus from protecting access to credit to expanding access to credit for Americans nationwide. The new legislative and regulatory environment in Washington will allow AFSA to lead the way, working with lawmakers and policymakers to bring balance to the regulatory environment and roll back regulations that have made credit more expensive and less available.

AFSA is pursuing a variety of strategies in order to forward this goal. One of the most impactful ways AFSA can push toward the

expansion of credit is by restructuring the CFPB (The Bureau). The association has long advocated for a five-member commission structure at the bureau, which would ensure regulatory fairness for both business and the consumer. Additionally, placing the CFPB under the budget purview of Congress will ensure transparency and accountability.In 2014, AFSA commissioned a study by Charles River Associates on Fair Lending in the Indirect Auto Lending Market to assess the effectiveness of the present model and evaluate the costs and benefits of alternative approaches. AFSA remains opposed to discrimination of any kind and is committed to optimizing consumers’ access to affordable credit, and dedicated to ensuring credit markets function competitively and efficiently for all consumers, automotive dealers and finance sources.

AFSA’s State Government Affairs (SGA) Department works on behalf of members on issues in all 50 states. Members have access to AFSA Track by KSE,the association’s customized legislative tracking system, and a wealth of issues management resources, including white papers, talking points, and 50-state surveys. SGA also engages in direct advocacy through comment letters and testimony, in conjunction with its partners at the state level. Top issues include all-in rate caps,California Privacy Law and monitoring and respondin gto actions of the State Attorneys General.

ACTIVE AT THE STATE LEVEL

AFSA has a very close relationship with the National Automobile Dealers Association (NADA). Members currently work with NADA on a coalition called AWARE (Americans Well-Informed on Automobile Retailing Economics). The purpose of which is to build understanding of the benefits of motor vehicle dealership financing among consumers, policymakers, media, and other opinion leaders so that this financing remains available and competitively priced for the broadest possible spectrum of consumers.

AFSA and its Independent Auto Finance Executive Group coordinate joint meetings and discussions on areas of common interest with the National Independent Automobile Dealers Association (NIADA).

AFSA WORKS DIRECTLY WITH NADA AND NIADA

AFSAIN THE MEDIAAFSA maintains an active relationship with the media covering the retail channel of the auto industry. Auto finance media are invited to the AFSA Vehicle Finance Conference & Expo. AFSA representatives travel to Detroit and New York to speak with the media about industry issues and to attend major auto shows. AFSA maintains several associate memberships in regional auto writer associations around the country.

AFSA provides several specialized boards, committees and working groups specifically for vehicle finance division members.

These include:

The Vehicle Finance Conference & Expo, scheduled February 12-14, 2020 at the Bellagio in Las Vegas., is the annual conference for members of the Vehicle Finance Division and the general auto financing industry (www.vehicle.afsaonline.org).This conference is held in conjunction with National Automobile Dealers Association (NADA) Show. The conference sets the tone and direction for the auto finance industry for the upcoming year through the sharing of key industry trends, compliance and regulatory activities as well as industry best practices among the top auto finance sources, their business partners and the NADA leadership.

Over 600 CEOs and top management from vehicle finance and leasing companies and banks as well as leaders from NADA and other dealer groups attend this conference. This includes: attorneys, government affairs, compliance, human capital management, marketing/sales, remarketing, and risk management executives.

This conference is open to all AFSA members and non-members including auto finance executives, business partners and auto dealers. The AFSA Vehicle Finance Division Board, Vehicle Credit Risk Management and Commercial Credit Committees meet in conjunction with this conference.

For more information, visit www.afsaonline.org or contact the AFSA member services department at membership@afsamail.org or call (202) 466-8602.

COMMITTEES, BOARDS AND WORKING GROUPS

* Vehicle Finance Division Board* Independent Auto Finance Executive

Group* National Title Solutions Forum* Vehicle Commercial Credit Committee* Vehicle Credit Risk Management

Committee* Vehicle Law Subcommittee* Vehicle State Government Affairs

Subcommittee

THE AFSA VEHICLE FINANCE CONFERENCE & EXPO IS AFSA’S LARGEST EVENT

Protecting Credit Since 1916

* Vehicle Finance Technology Task Force

American Credit Acceptance LLC American FinancialAuctionCreditAuto Trakk, LLCAutomotive Finance Corporation Byrider Finance LLC dba CNAC Carfinco Financial Group (International)C&F Finance CompanyCarMax Auto FinanceCarolina Finance, LLCChallenge Financial Services Coastal Credit LLCCoastal Finance Company, Inc. CRB Auto Credit Acceptance Corporation Equity Auto Finance Exeter Finance Corp.Fair Financial Corp.FinancePoint, Inc.First Help Financial, LLCFlagship Credt Acceptance Foursight Capital, LLCGateway Financial ServicesGlobal Acceptance, Inc.Global Lending Services, LLCGo Auto Finance (International)Guardian Finance CompanyIdaho Farm Bureau Financial Services Leaders Financial CompanyLPFA, LLCM/V Acceptance, LTDMariner Finance, LLC

American Honda Finance Corp.BMW Financial ServicesCaterpillar Financial Services Corporation Ford Motor Credit Company LLCGM FinancialHarley-Davidson Financial Services, Inc. Hyundai Capital AmericaJohn Deere CreditKubota Credit CorporationMercedes-Benz Financial Services USA, LLC Nissan Motor Acceptance Corporation Porsche Financial ServicesSoutheast Toyota FinanceToyota Financial ServicesVolvo Car Financial Services U.S., LLCVW Credit, Inc.

AUTO FINANCE COMPANIES

BANKSAlly Financial Inc.Anderson Brothers BankBank of America Dealer Services Bank of the WestBB&T Dealer Financial Services Capital One Auto Finance, Inc. Chase Auto FinanceCitizens One Auto Finance Crescent Bank & TrustFirst Reliance BankHuntington National Bank KeyBank, N.A.Santander Consumer USA Standard Bank (International)SunTrust Banks, Inc.TD Auto Finance LLC Wells Fargo Auto

CAPTIVE VEHICLE FINANCE MEMBERS

Protecting Credit Since 1916

AFSA VEHICLE FINANCE DIVISION MEMBERS February 2019

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MAS Financial ServicesMidwest Acceptance Corporation Mission Financial ServicesModel Finance CompanyModern Finance CompanyMullen Finance PlanMUSA Auto Finance, LLCNational Auto Lenders, Inc. Nationwide Acceptance Corporation Nicholas Financial, Inc.OpenRoad Lending LLCPlatinum Auto Finance of Tampa Bay LLC Prestige Financial Services Pronto Finance, Inc.Quality Acceptance, LLCRegional Acceptance Corporation Reliable Auto Finance, Inc.Reliable Credit Association, Inc.ROAD Auto FinanceSAFCO

Security National Automotive Acceptance Skopos Financial, LLCStandard Financial, LLCState Capital Auto FinanceSteward Financial ServicesThe Equitable Finance CompanyTidewater Finance Company, Inc. Total Finance AC LLCTracir Financial Services Inc.Turner Acceptance Corporation U.S. Auto Finance,Inc.United Auto Credit Corporation United Group/United Finance Co. Universal Financial Company Vehicle Acceptance Corporation Veros Credit, LLCWestlake Financial ServicesWhitestone Financial, Inc.Wyoming Auto Finance, Inc.

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