Steven Lambert, president and chief executive of Nissan Motor Acceptance Corp., was installed in late October as chairman of the American Financial Services Association, a trade group for the consumer credit industry.
During the yearlong stint, Lambert aims to help the Washington, D.C.-based association’s 350 members navigate the current economic difficulties to create “more opportunities for stability and growth,” he said in an interview posted to AFSA’s web site.
The road ahead will be tough, though. “I think the next year will bring continued challenges,” he said. “I don’t see the credit markets working through this situation for the next 12 months.”
AFSA’s Vehicle Finance Division, meanwhile, will tackle issues like vehicle sales declines and residual value losses.
Lambert joined NMAC in 1992 with the responsibility of forecasting, budgeting and marketing analysis for the sales department. He has held the president and CEO post since 2002.
AFSA members include consumer and commercial finance companies, auto finance and leasing companies, mortgage lenders, credit card issuers, industrial banks, and industry suppliers.
—Marcie Belles
