American Financial Services Association (AFSA) Statement on the Benefits of the National Automobile Dealers Association’s (NADA) Fair Lending Compliance Policy and Program By Chris Stinebert, AFSA President & CEO

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“From a lender’s perspective, NADA’s Fair Credit Compliance Policy & Program can serve as a valuable tool that is consistent with a lender’s comprehensive credit compliance efforts. If the NADA program is implemented in the rigorous and comprehensive manner suggested in NADA’s policy, both lenders and dealers can benefit from the ability to demonstrate that the price of credit is the product of objective business factors. Depending on individual dealer and lender circumstances, lenders may choose to actively support thoughtful and thorough implementation of NADA’s program by a dealer to document business reasons for pricing differentials. 
While lenders can use other approaches to address the CFPB’s fair lending concerns, the NADA program is a legitimate tool in the toolbox that helps provide lenders with evidence that there are legitimate nondiscriminatory reasons for pricing differences.”
Based in Washington, D.C., AFSA ( is the national trade association for the consumer credit industry, protecting access to credit and consumer choice.  Its 350 members include consumer and commercial finance companies, auto finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry partners.   
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