AFSA’s State Government Affairs team submitted testimony to the New Jersey Senate regarding S1310, which would permit specific for-profit debt adjusters to be licensed for conducting business in the state. These adjusters charge high fees but do not offer any additional value beyond what borrowers can already obtain for free by directly negotiating with their creditors. […]
The Federal Trade Commission has released its final “junk fees” rule. AFSA is pleased to report that the final rule is much narrower in scope and does not apply to financial services. The final rule includes a definition for “Covered Good or Service” to include only: live-event tickets or short-term lodging. AFSA worked hard to ensure that the financial […]
The Federal Reserve’s Federal Open Market Committee (FOMC) on December 18 lowered the federal funds rate target by 25 basis points, a quarter percentage point. The target range now stands at 4.25 percent to 4.5 percent, a full percentage point lower than the cyclical peak reached in September. This latest FOMC action was preceded by a 25 basis-point reduction in November and a […]
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
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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.
