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 […]
AFSA appreciates the decision by the Consumer Financial Protection Bureau to suspend enforcement of the Payday, Vehicle Title, and Certain High-Cost Installment Loans regulation, specifically related to the payment withdrawal provisions and the payment disclosure provisions. AFSA has consistently called on the Bureau to not implement a highly flawed set of policies without first undertaking […]
This week, AFSA along with other financial associations, sent a letter urging the FDIC to withdraw its proposed rule that will negatively impact current ILC institutions and discourage future applications. In July 2024 the FDIC announced it was amending existing regulations governing parent companies of industrial banks and ILCs. This proposal will obstruct the ability […]
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.
