Reps. Sarah McBride (D-DE) and Young Kim (R-CA) reintroduced the bipartisan “Ending Credit Repair Scams Act” (HR 306) last week. 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. Representative McBride recognized AFSA’s support in a press […]
Yesterday, AFSA sent a letter to both Senate Banking Chairman Tim Scott (R-SC) and House Financial Services Chairman French Hill (R-AR) congratulating them on their selection as chairmen for the 119th Congress, and reiterating our appreciation for both Senator Scott and Congressman Hill’s support of the consumer credit industry. The letter, along with AFSA’s 2025 priorities […]
Last week, AFSA responded to the CFPB’s Auto Finance Special Edition of Supervisory Highlights. While the goal of these publications is to “help industry limit risks to consumers and comply with federal consumer financial law,” this most recent edition of the Highlights does not provide sufficient detail for the auto-finance industry to adjust practices to conform to […]
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.
