On April 2, 2025, AFSA commented on the CFPB’s rule regarding data brokers under the Fair Credit Reporting Act (FCRA). AFSA requested that the CFPB withdraw the rule. The proposed rule would expand the definitions of “consumer report” and “consumer reporting agency” beyond the definitions provided under existing law. As these definitions and related substantive […]
AFSA’s April State Government Affairs white paper is now available. This month’s white paper highlights the rapid growth of non-housing consumer debt, with debt settlement companies emerging as a popular but often misleading solution for struggling consumers. Despite claims of reducing debt significantly, these companies typically charge high fees, harm credit scores, and offer low success rates, leading to further financial […]
On April 1, AFSA posted comments on the CFPB’s proposal to establish Regulation AA. This new regulation would establish new limitations on consumer credit that exceed the CFPB’s authority. The proposal would prohibit provisions in contracts that waive federal or state laws that provide consumer benefits. One example of the negative effect of this rule […]
Consumer Lending by the Numbers
13.7 MILLION consumers hold a traditional installment loan
13.7
million
consumers hold a traditional installment loan
82 MILLION consumers in the PRIME VALUE or better risk tier
AFSA’s comprehensive web-based monitoring system provides legislative and regulatory tracking in all 50 states and the federal government, accessible every day of the year.
Interested in receiving AFSA publications like Capital Notes, News You Need, meeting details, and webinar/podcast announcements? Create a user account today!
AFSA has assembled a number of resources to help members as they navigate the COVID-19 coronavirus and continue to assist their communities. Click to read more.
