For the seventh consecutive year, the American Financial Services Association and the National Automobile Dealers Association co-sponsored an executive forum to discuss legislative, regulatory and operational challenges facing dealers and finance sources.

Led by David Paul, chair of AFSA’s Vehicle Finance Division and senior vice president with American Honda Finance Corp., and NADA chairman Jeff Carlson, the organizations highlighted that chief executive officers and other top executives from virtually every major finance company and major bank in the nation engaged in indirect auto financing attended the forum, along with the leaders of the nation’s franchised dealers.

Representatives from the American International Automobile Dealers Association, National Association of Minority Automobile Dealers, and Automotive Trade Association Executives also were in attendance, according the recap AFSA shared this week.

AFSA mentioned the forum featured an “engaging” discussion with Consumer Financial Protection Bureau director Richard Cordray, who reviewed the bureau’s activities in the area of vehicle financing and offered some insight on the path forward.

In a separate presentation, AFSA shared that Brian Johnson, senior counsel to the House Financial Services Committee, and Jelena McWilliams, chief counsel to the Senate Banking Committee, offered their perspectives on the important role vehicle financing plays in the American economy.

Marguerite Watanabe, president of Connection Insights, and Andy Koblenz, executive vice president at NADA, each reviewed the finance source and dealer survey results focusing on finance company and dealer concerns and opportunities.

“Top concerns for finance sources include exams and enforcement actions, cybersecurity, compliance, changes in vehicle values, and hiring, training and retaining employees,” AFSA said.

“Dealers are most concerned with new regulations from the FTC and CFPB, existing regulations and compliance, and hiring, training and retaining employees,” the association continued. “New opportunities focused on technology improvements and mobile financing options for lenders, and leasing and e-contracting for dealers.”