As another member of the auto-finance industry became chairman of the American Financial Services Association’s board of directors, an executive who has been with Credit Acceptance since 1996 received AFSA’s Distinguished Service Award (DSA) during the organization’s annual meeting in Nashville, Tenn.

The association’s highest honor went to Charlie Pearce, who serves as the chief legal officer, corporate secretary and chief compliance officer for Credit Acceptance. He joined Credit Acceptance 23 years ago after a career in private practice with Rhoades, McKee.

The DSA is awarded to individuals who have contributed significantly to the industry and AFSA’s growth on a national level, advanced the association’s mission and objectives, and elevated its image.  

Since Credit Acceptance joined AFSA a decade ago, the association highlighted that Pearce has helped leadership to assess and respond to the many challenges that confronted the industry in recent years. AFSA emphasized the passage of the Dodd-Frank Act in 2010 and the creation of the Consumer Financial Protection Bureau (CFPB) in 2011 opened a new era of regulatory challenges.

“In the midst of this new era, Charlie was part of the AFSA team that held early meetings with the newly formed CFPB in an attempt to bring some clarity to the path forward,” AFSA officials said

In 2018, Pearce was appointed to a two-year term as chair of the AFSA Law Committee. He also sits on the AFSA board of directors and the vehicle finance advisory board. 

AFSA also gave its Distinguished Service Award to Greg Hamby, who serves as the senior director of Business Development at SourceLink.

Hamby began his career working for L.M. Berry & Company in 1986, which was acquired by Bellsouth Advertising & Publishing Co., three months later. He worked for BellSouth for nine years until he was hired by SourceLink in May 1995. 

Hamby has been a member of AFSA’s business partner board since 2005 and currently serves as chairman, leading the group through an important period of development, as the industry adapted to new federal regulations and business practices.

“Moreover, he worked with the committee to adapt as the industry continues its digital transformation,” AFSA officials said. “While at the same time serving on AFSA’s board of directors, helping shape policy and direction for the association, Greg is a mainstay at AFSA conferences and readily shares his years of experience with everyone.” 

New AFSA board leadership

AFSA closed its annual meeting by announcing its board of directors elected a new chairman, chair-elect and vice chairman-treasurer for the next 12 months.

Dan Chait, president of Southeast Toyota Finance was elected the new chairman of the AFSA board. Chait takes the gavel from outgoing board chair Josh Johnson, chief executive of Mariner Finance Co. who completed his one-year term.

Chait has been on the AFSA board of directors since 2015. He currently serves on the AFSA executive committee, vehicle finance board and AFSA investment policy committee.

Tom Hudgins, president and chief operating officer of Western Shamrock Corp. in Dearborn, Mich., was chosen as chair-elect of the AFSA board and will succeed Chait in 12 months. Hudgins has been a member of the AFSA board of directors since 2014 and has been a member of the executive committee since 2015.  He also serves on the AFSA investment policy committee, operations committee, installment lending technology task force and on the AFSA state government affairs committee and several of its subcommittees.

Hudgins also is the former chairman of the National Installment Lenders Association.

Jim Drotman, executive vice president for the U.S. and Canada at Ford Motor Credit was elected vice chair – treasurer.