Today compliance is at the forefront in auto finance management. The Consumer Financial Protection Bureau requires that finance companies have a comprehensive Compliance Management System (CMS). The most critical part of a CMS is an educated workforce. The National Automotive Finance (NAF) Association is committed to providing comprehensive compliance education to the auto financing industry.
The NAF Association provides educational programs for finance company compliance management staff, stake holders involved in compliance and for those finance company employees that function in line capacities that deal directly with the public. The educational programs offer in-depth coverage of the laws and regulations that directly affect auto financing. Periodic testing to confirm understanding of material is part of each program and must be successfully completed before proceeding to graduation.
Members include companies engaged in indirect and direct below-prime auto financing, auto dealers and companies interested in furthering the goals of the NAF Association.
Full membership is open to companies that actively engage in indirect and direct below-prime auto financing and to auto dealers. These members have full voting rights and may serve on the board of directors.
Associate membership is open to organizations or individuals who have an interest in furthering the goals of the association but are not financing sources. Associates enjoy most of the benefits of membership but may not vote or serve as voting members of the board of directors.
The 2019 Non-Prime Automotive Finance Survey is jointly coordinated with the two premier professional organizations in automotive finance: NAF (the National Automotive Finance Association) and AFSA (the American Financial Services Association).