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 […]

“Industry Expertise” is sponsored content produced by AFSA Business Partners to share their thought leadership and best practices information with AFSA member companies. For more information about this sponsored content opportunity, contactDan Bucherer. By Suzi Straffon, Allied Solutions June 27, 2024 Lenders are faced with renewed regulatory challenges at both the state and Federal level, […]

Meta/SEO Description: If digitalization is part of your long-term vision, look no further than to DataCision to propel your dealer commercial lending business forward. From Paper Trails to Digital Transformation: DataCision Moves Your Vision Forward As your business moves toward a more digital future, it is likely that you have successfully transitioned to cloud-based applications, […]

AFSA’s State Government Affairs team submitted a comment letter to the New Jersey Senate regarding S1310, which would permit specific for-profit debt adjusters to be licensed for conducting business in the state. AFSA expresses concerns for the effect this bill would have on its members and their customers in New Jersey, by approving “debt adjusters” […]

This week, AFSA joined other organizations in expressing concerns with the American Privacy Rights Act (APRA) as drafted. AFSA supports a national standard for data privacy, but the legislation in its current form would not best serve consumers. The letter highlights the importance of including full preemption in any national privacy framework. Full preemption is essential […]

“We shall overcome because the arc of the moral universe is long, but it bends toward justice.”  –Dr. Martin Luther King Jr.  Juneteenth is a commemoration of the ideals of equality, justice, and freedom, which we strive to perfect for all. In America’s history there have been many moments of success and many moments of failure […]

Today, the CFPB released a “Data Spotlight,” which focused on an analysis of negative equity data from a group of auto finance entities. As background, in February 2023 the Bureau announced a pilot data project and issued nine market monitoring orders to auto lenders. This report is the first in a series using data from […]

This week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the Senate Banking Committee and the House Financial Services Committee for his semi-annual report to Congress. In both, Director Chopra focused his opening remarks on CFPB actions in the financial data space, including alluding to an upcoming proposed rule under the Fair Credit […]