AFSA is saddened to learn of the death of long-time law Committee Vice Chairman Alvin O. Wiese on October 11 at the age of 95. A graduate of the University of Southern California Law School, Al was admitted to the bar in 1954 and dedicated his life to representing consumer finance lenders, AFSA, and the […]
A bipartisan group of Representatives recently led by Rep. Blake Moore (R-UT) sent a letter to FDIC Chair Martin Gruenberg, urging the withdrawal of the proposed rule governing parent companies of industrial banks and industrial loan companies. The letter highlighted the uncertainty that would occur if the rule was finalized and how that would impede the ability of ILCs to offer crucial products and […]
Yesterday, Representatives Wiley Nickel (D-NC) and Young Kim (R-CA) introduced the bipartisan “Ending Credit Repair Scams Act” (HR 9991). This bipartisan legislation would protect financially distressed consumers from shady credit repair organizations (CROs) that falsely promise to rebuild their credit history while charging expensive up-front and monthly fees. The American Financial Services Association (AFSA) and […]
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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