Consumers struggling with debt are not alone … and not without options. But the Federal Trade Commission is warning consumers this week that the search for help can itself become a trap. In a new consumer alert the FTC lays out clear red flags regarding companies that promise debt relief: any company that demands payment upfront […]

AFSA’s State Government Affairs team recently submitted comments expressing serious concerns with Maryland’s HB 1198, a well‑intentioned bill aimed at addressing economic abuse but written so broadly that it may unintentionally enable fraud. While AFSA strongly supports protecting victims of domestic and economic abuse, the current language risks forcing creditors to write off legitimate debts and undermines long‑standing […]

AFSA’s State Government Affairs team has sent a letter urging Oregon’s governor to veto HB 4116, warning that the bill would strip state‑chartered banks of essential DIDMCA protections while leaving national banks untouched. The proposal would create legal uncertainty, operational risk, and a direct competitive disadvantage for Oregon‑based institutions. AFSA believes a veto is necessary to preserve a fair marketplace and protect […]

AFSA supports Financial Institutions Subcommittee Chair Andy Barr’s (R-KY) legislation, “Eliminating Fraud in the CFPB’s Complaint Database Act” (HR 7588). The bill mandates that complaints submitted to the CFPB database must be true and accurate, and must be submitted directly by the consumer or by an authorized representative with sufficient proof of identification. The legislation stipulates […]

The Spring 2026 FICO Score Credit Insights report highlights a U.S. credit landscape marked by both relative stabilization and growing segmentation. The average national FICO score slipped to 714 in October 2025, down from 715 in April 2025 and continuing a shallow decline from its peak of 718 in April 2023. But the average is […]

BUSINESS PARTNER WEBINAR Rethinking Auto Recoveries: The Role of Secured Debt Sales in Today’s Market March 26, 2026 at 2:00 p.m. ET As auto lenders navigate rising delinquencies, evolving consumer expectations, and increased regulatory scrutiny, debt sales are becoming a more important—yet often misunderstood—part of the expanding recovery toolkit. In this AFSA webinar, Ryan Bell, […]

AFSA is grateful for Sens. Chris Coons (D-DE) and Lisa Murkowski’s (R-AK) introduction of bipartisan legislation, S. 4144, the Ending Scam Credit Repair Act (ESCRA), to combat credit repair organization scams. By establishing stronger protections and accountability standards for credit repair organizations, financial institutions will no longer be inundated by duplicative and meritless credit dispute […]

The American Financial Services Association welcomes the Trump Administration’s comprehensive national framework for artificial intelligence policy and applauds its commitment to harnessing AI’s transformative potential while protecting American consumers. Consumer lenders are on the front lines of the battle against AI-enabled fraud. Scams targeting consumers and businesses through synthetic identities, deepfake impersonations, and AI-generated phishing […]

As AFSA staff and members fanned out across the nation’s capital earlier this week to spread the word to Congress and the Administration on the benefits of consumer credit, a new survey from the Federal Reserve Bank of New York reported mixed experiences on credit access. The New York Fed’s thrice-a-year Credit Access Survey showed […]

On March 18 New York Governor Kathy Hochul signed into law the state’s coerced debt chapter amendment bill (AB 9460/S 8830), an important update several months in the making. The signing follows AFSA’s outreach last fall, when we submitted a chapter amendment request letter to the governor’s office outlining key changes needed from the original bill (S 1353B) that passed the legislature […]