Washington, D.C.—The Equipment Leasing and Finance Association (ELFA) has awarded Bonnie Michael, Vice President Legal and Compliance USA for Volvo Financial Services, the Edward A. Groobert Award for Legal Excellence. ELFA Legal Committee Chair Lisa Moore, Senior Counsel at PNC Equipment Finance, LLC, presented the award to Bonnie on May 4 at ELFA Legal Forum LIVE! in recognition of her significant contributions to the association and the equipment finance industry.
Bonnie has over two decades of experience representing equipment finance companies and the financial services industry. She joined Volvo Financial Services as General Counsel in 2010 and has led the USA legal team since then. In her current role, she monitors the broad spectrum of legal and regulatory areas impacting the company, providing day-to-day advice and guidance, and implementing changes as developments occur.
A leader in her field who is conversant in a wide range of topics concerning equipment finance, Bonnie has contributed to ELFA and the equipment finance industry in a number of ways.
She has served as an information resource for ELFA members regarding legal issues impacting the equipment finance industry. She has been a frequent speaker and participant in the ELFA Legal Forum and other industry events. In addition, she has contributed to ELFA’s Equipment Leasing & Finance magazine and the Equipment Leasing & Finance Foundation’s Journal of Equipment Lease Financing, and led a team of ELFA volunteers in updating the Motor Vehicle State Survey on Financial Responsibility.
Bonnie has served in a number of leadership roles within the association. She is a past member of the ELFA Legal Committee (2010–2012) and past Chair/Co-Chair of the ELFA Motor Vehicle Subcommittee (2010–2016). She also gives back to the industry by serving on the Board of Trustees for the Equipment Leasing & Financing Foundation (2015–present). In 2020, she was the Vice Chair of the Foundation Board. She has served on the Foundation’s National Development Committee, Nominating Committee and Editorial Review Board for the Journal of Equipment Lease Financing.
As a respected industry thought leader, Bonnie has mentored many members of the industry legal community. She has invested time and leadership in serving as a resource to colleagues seeking guidance from her on a range of legal issues.
Outside of ELFA, Bonnie has actively participated as an “observer” in the submissions to and meetings with the Uniform Commercial Code and Emerging Technologies Committee of the American Law Institute/Uniform Law Commission currently undertaking a review of the UCC to determine whether the Code or official comments should be revised or supplemented to reflect emerged and emerging technology.
In addition to her legal responsibilities at Volvo Financial Services, Bonnie created and served as the initial Chair of the Community Involvement program in the U.S., which furthered her passion for giving back, and also created and served as the first Chair of the Engagement Committee in the U.S., helping to foster an even better workplace for all employees to enjoy.
Bonnie holds a J.D. from Chicago-Kent College of Law and a Bachelor of Arts degree in journalism from the University of Wisconsin.
About the Award
The Edward A. Groobert Award for Legal Excellence is named for ELFA’s long-time Secretary and General Counsel Edward A. Groobert, who was active in the legal affairs of the association from the mid-1960s until his retirement in 2010.
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the nearly $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. In 2021, ELFA is celebrating 60 years of equipping business for success. For more information, please visit www.elfaonline.org.
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