For those industries and businesses that are regulated by such federal agencies as the Consumer Financial Protection Bureau, the Securities and Exchange Commission, or the Federal Trade Commission, today’s U.S. Supreme Court ruling regarding the so-called Chevron deference is kind of a big deal. SCOTUS reviewed two federal cases, Loper Bright Enterprises v. Raimondo and […]
In anticipation of today’s markup of the American Privacy Rights Act of 2024 (APRA), AFSA sent a letter to Chair Cathy McMorris Rodger (R-WA) and Ranking Member Frank Pallone (D-NJ) suggesting changes to the APRA that would ensure it works best for businesses and consumers alike. AFSA is highly supportive of legislation that creates a […]
In a significant court ruling in Colorado, a federal judge preliminarily agreed with the American Financial Services Association, the American Fintech Council, and the National Association of Industrial Bankers’ legal challenge to a Colorado statute that purports to apply Colorado law on loans made to Colorado residents by state-chartered banks located outside Colorado. Last week’s […]
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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