Keynote from CFPB Assistant Director Among Highlights of Non-Prime Auto Financing Conference

May 23, 2012

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FORT WORTH, Texas — When National Automotive Finance Association leaders created the theme for the 16th annual Non-Prime Auto Financing Conference, they looked to focus on what's been a hallmark of the event, along with keeping things fresh.

"You will be ‘Fueling Success' in your business," the NAF Association declared about this year's conference, which is set for next Thursday and Friday at the Omni Fort Worth Hotel in Fort Worth, Texas.

After deciding on the theme of "Fueling Success," NAF Association officials highlighted what's on tap for this year's event.

"Some institutions are reaching into higher risk bands to maintain or to grow volume. The strategy requires careful planning and execution. Learn about the buy-here, pay-here market and how it differs from the non-prime market. Learn from the keynote speaker Richard Hackett what's going on with the new Consumer Financial Protection Bureau," they mentioned.

"Other topics include the use of alternative data tools to assist in underwriting; new and emerging technology solutions; a unique presentation on crisis management, showing how to take the initiative to protect your business; collections; repossessions; legal developments; the ABS market; and an economic forecast," NAF Association noted.

"The strategies and solutions presented at the conference will help you take advantage of the positive changes in the marketplace," the association went on to note.

As mentioned, the event's keynote address will be offered by Hackett, the CFPB's assistant director. Hackett's responsibilities include advising all divisions of the bureau with respect to market information and policy and legal issues in the installment and specialty lending areas, including vehicle finance, student lending and payday lending.

Prior to joining the CFPB, Hackett practiced law focused mainly on consumer financial services law and retail financial services regulation. His clients included community banks and large financial institutions, non-bank lenders and student loan securitizers, merchants and other credit grantors.

This presentation will be built on questions submitted in advance by NAF Association members. The members' questions will be compiled,, and NAF Association's counsel, Tom Hudson, chairman of Hudson Cook, will pose the questions to Hackett.

Some of the specific agenda sessions include:

—Legal Panel: NAF Association's Legal Committee will provide updates on state and federal laws, regulations and legislation affecting below-prime auto financing. Topics to be discussed include: leasing and non-prime lease issues; the Servicemembers Civil Relief Act and the Consumer Financial Protection Bureau's special division on SCRA issues; state law auto finance issues with audits, conditional delivery, document prep, fees, holder liability, repossessions, rights and obligations and litigation avoidance practices in servicing and collections.

—Technology Panel: Today, many non-prime auto finance companies seek incremental ways to build operational efficiencies into their business to maximize profits and allow for greater growth. In this session, several new technologies will be shared that will improve workflows, optimize process effectiveness and improve customer satisfaction.

—CEO Panel: Attendees will hear from a panel of industry executives from smaller-sized institutions about what's happening in the non-prime auto financing industry. NAF Association contends their perspectives are unique, and they will share their views on where the industry has been, where it is now and on emerging trends.

The complete agenda and registration details can be found at nafassociation.com.