Highlights from the Compliance Champions Workshop
This week, the National Automotive Finance (NAF) Association hosted over 50 auto finance professionals for the Compliance Champions Workshop in Irving, Texas. This immersive event brought together key stakeholders from across the industry to dive into compliance essentials, share experiences, and explore solutions to pressing regulatory challenges.
The workshop offered a well-rounded agenda designed to equip attendees with actionable insights and practical strategies. A distinguished lineup of speakers, including a team of attorneys from Hudson Cook, LLP, brought invaluable expertise to sessions covering critical topics like supervisory highlights, state and federal enforcement and litigation updates, vendor management, servicing, and examination preparation.
"Attending the NAF Association’s Compliance Workshop was more than just a training session—it was an opportunity for attendees to arm themselves with the latest auto finance insights and practical tools and tips that will help keep their organizations ahead of the curve in an ever-evolving federal and state regulatory landscape," said Eric Johnson. "Participants left the Workshop not only with a deeper understanding of the federal and state compliance requirements, and supervisory, enforcement and litigation actions, but also with the confidence to apply those requirements to real-world scenarios, creating a stronger, more compliant organization."
Key Sessions and Insights
Facilitated by Hudson Cook attorneys Patty Covington and Eric Johnson, the workshop provided a blend of knowledge-sharing and hands-on learning. These sessions were tailored to help professionals not only stay informed about the latest compliance requirements but also gain skills to apply these insights in real-world scenarios.
One of the event’s highlights was a keynote address from Malini Mithal, Associate Director, Division of Financial Services, at the Federal Trade Commission (FTC). Mithal’s insights on federal regulatory expectations offered invaluable perspectives on industry compliance, sparking important conversations around current and future challenges in auto finance compliance.
"Compliance is a key to the success of an auto finance company, and NAF is again at the forefront supporting the industry,” said Patty Covington. “This week, it held an all-day conference on compliance with topics ranging from insights from CFPB Supervisory Highlights to how to prepare for a state and/or CFPB exam. NAF was pleased to offer its members and nonmembers alike this opportunity."
Actionable Takeaways: Putting Knowledge into Practice
The event concluded with an action planning and implementation session designed to help attendees solidify their key takeaways. This wrap-up session encouraged participants to discuss the strategies they plan to bring back to their organizations, ensuring that what they learned could be translated into actionable compliance practices.
Year-Round Compliance Support for NAF Members
The Compliance Champions Workshop is part of NAF Association’s broader commitment to supporting compliance excellence in the auto finance industry. Beyond the workshop, the Association offers numerous resources, including the Compliance Professional Certification and Recertification Program, Front Line Staff Certificates, regular webinars, and a dedicated compliance track at its Annual Conference. These programs are structured to support professionals and teams year-round, keeping them updated on regulatory developments and best practices.
In addition, the NAF Association fosters community and professional development through its NAF Networks, which comprise four specialty groups — Leadership, Operations, Risk, and Technology. These groups give members a dedicated space to connect with peers, discuss challenges, and exchange ideas on industry-specific topics.
“At the NAF Association, we believe that building a strong community is integral to maintaining high compliance standards across the industry,” said Jennifer Martin, NAF Association Executive Director. “Our programs not only provide essential tools and resources for staying ahead of regulatory requirements but also foster a network of professionals who support each other in meeting challenges and advancing best practices. This commitment to both compliance and community-building empowers our members to thrive in an increasingly complex landscape.”
Looking Ahead: Signature Events on the Horizon
The Compliance Champions Workshop joins a lineup of signature NAF Association events, which include the Annual Non-Prime Auto Financing Conference and the C-Suite Retreat. Industry stakeholders can look forward to the 2025 Annual Conference, scheduled for June 4–6 in Plano, Texas, with more details to come about the 2025 C-Suite Retreat and Compliance Champions Workshop.
For professionals looking to strengthen their compliance knowledge while connecting with a like-minded community, NAF Association’s events and programs provide a solid foundation for success. Stay tuned for updates as the NAF continues to lead the way in auto finance compliance and professional development.
