In a memorandum released by TSL Express to the Commercial Finance Association Community, interim CEO Richard Gumbrecht shared his near-term agenda for the CFA, provided an update on the CFA's progress, and commented on "unwanted communication circulating in the media regarding the CFA and its board."
 
According to the memorandum, Gumbrecht stated the search committee has made good headway in identifying potential candidates to serve as the CFA's next Executive Director and that the committee is continuing to work through the vetting process with promising expectations. 
 
In addition to CFA’s core programming and many engaging Chapter events, Gumbrecht stated the CFA staff, board and volunteer community have been hard at work introducing new resources, such as our recently delivered virtual web training on Healthcare ABL and Specialty Lending, improved Industry Data Survey, and the CFA's first ever Women in Commercial Finance Conference.
 
Finally, Gumbrecht stated, "There has been a lot of unwanted communication circulating in the media regarding the CFA and our board. While we cannot comment on litigation and ongoing legal matters, I feel it’s important for you to know that we are vigorously defending these allegations that serve only to detract from our mission of providing value to our members and our commitment to your success."

On February 16, 2017, Robert Trojan, the former Chief Executive Officer of the CFA filed a lawsuit in the U.S. District Court Southern New York alleging termination without cause, and other charges, against the association and others.