It feels like just yesterday that I was writing about heading to New Orleans for an American Financial Services Association conference, and here we are again, just days away from the 2017 AFSA Annual Meeting.
What’s changed since January? Partially, the last AFSA event feels so recent because—for as much as has changed between then and now in the consumer lending industry—we’re not that far removed from where we were at the beginning of the year.
Take a look at what I wrote in advance of the 21st Annual AFSA Vehicle Finance Conference and Expo, which occurred days before President Trump’s inauguration:
Will Trump oust Bureau Director Richard Cordray? Some even wonder if the POETUS could dismantle the CFPB and Dodd–Frank entirely, as he has alluded in the past. While most believe a complete teardown of the CFPB, Dodd–Frank, and the current Fair Lending framework is unrealistic, there will certainly be changes ahead. … In light of uncertain business conditions and an even more unpredictable regulatory climate, there are sure to be plenty of lively debates and discussions between AFSA conference attendees.
Ten or so months into the current administration, the answers to those questions are as uncertain as they were back then. If anything, our outlook is even murkier. Many lenders’ expectations about Trump’s approach to financial regulations haven’t come to fruition. So far, the current climate is shaping up to look like a continuation of the Obama era status quo. At the same time, if we’ve learned anything since the 2016 election, it’s that predictions frequently don’t mean anything.
It’s no surprise, then, that a large portion of this year’s conference centers on what’s going on in today’s political scene and what to expect (or not expect) next from Capitol Hill. I suspect that many conference attendees are anxious to take the temperature of the room and understand how others are managing uncertainty. I certainly am.
In a similar vein, I’m looking forward to discussing another area of uncertainty for many lenders: cybersecurity. Tuesday’s general session, which couldn’t be more topical, focuses on data protection during the “Data Breach Decade.” Compli recently launched a cybersecurity solutions set, and I’m eager to introduce it to a larger audience and continue the conversation about these ongoing concerns.
Find Me at the AFSA Annual Meeting
As a member of AFSA’s Operations and Regulatory Compliance and State Government Affairs Committees, I have the honor of working alongside members of the consumer finance sector on some of the most pressing issues our industry faces. But another reason I always look forward to the AFSA Annual Meeting is the opportunity to connect with Compli’s clients and prospects.
If you have questions about compliance management systems, cybersecurity, or anything else related to Fair Lending regulations and compliance, find me during the breakouts and luncheons. I’d be happy to discuss your business’s unique compliance challenges one on one. Please send me an email if you’d like to schedule some time for a conversation. See you there!