wimpact in supporting businesses, jobs and the U.S. economy. Foundation information ends up in amicus briefs and gives us the facts and approaches that appeal to a
young and diverse talent pool.
The Foundation creates practical, yet
forward-thinking, programs like the highly
successful 40 Under 40 Awards program and
celebration and CFA young professionals
group (also known as YoPros!) to increase
your bench strength and mirror the future
workforce. Thanks to these efforts, you can
be better positioned to forge partnerships
with Millennial-owned businesses in the
tech and other emerging sectors. You’ll
know how to appeal to a whole new
generation which is looking for capital and
expecting a new lending experience.
One of the many projects funded by the
Foundation is the CFA Data Initiative. For
many decades CFA has published industry
data that focused on ABL and factoring
statistics, including loss rates. This year,
the CFA Data Initiative has extended that
data to cover the lower-middle market,
and that is just the beginning. We are also
conducting an in-depth analysis with our
key stakeholders to make our industry data
even more valuable to you and relevant to
the world to show how important secured
lending is to our economy.
The Foundation had a very successful
fundraising year in 2016. It shows that
you understand how necessary it is to
invest in the future. That inspires us at CFA
headquarters to do even more important
work on your behalf.
It’s an exciting time of change and
growth. The future is bright, and I believe
you’ll agree: CFA has you covered.
authority to collect information and we’re
making sure it stops there. This power will
never be used as a wedge to get the CFPB
into business lending regulation while
we’re on watch.
The only certainty is uncertainty!
As this upcoming year unfolds, no matter
who won the elections, we have many of
the same challenges in 2017 as we did in
2016. In addition to consistency of regulation, many other issues keep us up at night,
such as growth (or lack thereof), the race
to the bottom on pricing, near-zero (still!)
interest rates, unnaturally high liquidity in
the markets for a very long time, and new
and harder competition from non-banks
and Fintech. Don’t even mention finding, developing (and keeping!) a new and
younger bench of talent, as many in our
industry approach retirement age. By
engaging in the CFA Community’s networking, education and advocacy efforts, we will
help you to keep your network world class,
to find that next deal, and stay on top of the
latest thinking and best practices to take
your business to the next level.
Preparing for the Future:
The CFA Foundation
With all this uncertainty ahead of us, I
wanted to touch on how CFA helps you
plan and prepare for the future. Your secret
weapon is the CFA Foundation.
The Foundation invites everyone in
the commercial finance community to
work together to anticipate the future.
Foundation efforts make sure education
programs prepare your team members to
embrace it, and creates the proof of our
As CEO, I spend all my time with members
of the CFA Community (You!), listening to
your questions and concerns, and this
Convention issue is the perfect time to
address those issues that are most likely
top-of-mind for you.
Will the secured lending industry face
more regulation in 2017?
As this issue goes to bed, the outcome of
the election is not yet known. But regardless of who our next president is, I can
assure you that our strong relationships in
Washington have been forged across the
aisle, and many of them are likely to remain
stable. While all new administrations bring
in new Labor, Treasury and Commerce secretaries, our non-partisan alliances give us
reason for optimism. It is also unlikely that
we will be starting from scratch in educating regulators about what you do.
Will Dodd Frank Rule 1071 increase the
CFPB’s regulator authority over YOU?
This rule will remain unaffected by the
election. It allows CFPB to collect data
on small-business lending. CFA has been
laser-focused on this. CFPB only has the
letter from THOUGHTS FROM CFA AND TSL STAFF
Commercial Finance Association
“With all this uncertainty ahead of us, I wanted to touch
on how CFA helps you plan and prepare for the future.
Your secret weapon is the CFA Foundation.”