CAFA’s Responsible Lending Initiative to Debut at BHPH World 2013 Convention
SARASOTA, Fla. — The Leedom Group announced next month's BHPH
World 2013 Convention will serve as the platform to launch an initiative and
call to action for what's being dubbed, "BHPH Responsible Lending."
Organizers highlighted this initiative was developed by the
Community Automotive Finance Association through its interaction with the Consumer
Financial Protection Bureau.
CAFA president Bob Okeley explained the initiative will
begin to address the proper value proposition that buy-here, pay-here dealers
should incorporate into their business philosophy.
Okeley will be featured as a keynote speaker during the event
that's on tap for April 8–10.
"The debut of this initiative at the BHPH World Convention
will serve as a rallying point for all dealers, lenders and service providers
in the BHPH industry," said Chris Leedom, president of the Leedom Group.
"We believe that as dealers clearly understand the proper
value proposition of the business model and the level of service that should be
delivered, the business segment will continue to provide an affordable
transportation alternative to more than five million consumers," Leedom
continued. "These small businesses fill a critical need in the communities
where they operate. Our goal is to help
shape the best practices for the industry for the near and long term."
Dealers and vendors interested in attending the Leedom Group's
19th annual BHPH World Convention at Caesars Palace in Las Vegas can learn more
about this initiative and immerse themselves in an event dedicated to
supporting operators and the industry at http://www.bhphworld.com or call Leedom
Group at (800) 966-8733.
"Dealers are increasingly aware of market shifts and increased
regulation of the buy-here pay-here industry, and we have decided to focus a
considerable portion of our agenda to helping them understand the proper
methods and best practices that should be implemented throughout the industry,"
convention chairman Chuck Bonanno said.
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