On February 24, AFSA staff testified at an IRS Public Hearing on regulations implementing the new tax deduction for vehicle finance interest. This tax deduction was enacted as part of the “One Big Beautiful Bill” in July 2025. Since that time, AFSA has been in communication with the IRS and Treasury regarding implementation considerations and […]

On March 2, AFSA submitted comments on an information request from the CFPB regarding its Consumer Response Intake Form. The CFPB routinely requests for comments on this information request, and AFSA takes the opportunity to share our observations on the consumer complaint portal. In February 2026, the CFPB made some important changes to the consumer […]

Last week, AFSA joined several with other financial trade groups to send a letter to the Senate Commerce and House Energy and Commerce Committees highlighting our growing concern about the questionable practices in the debt settlement industry. Too many debt settlement companies are engaging in deceptive and harmful practices that mislead millions of Americans into financial jeopardy […]

BUSINESS PARTNER WEBINAR TRUST, BUT VERIFY: WHY TITLE & LIEN VALIDATION IS THE MISSING LINK IN LENDER FRAUD PREVENTION APRIL 9, 2026 AT 2:00 P.M. ET Lenders today verify income, identity, employment, and even driver’s licenses — yet the one asset securing the loan, the vehicle title, is still largely accepted on face value. That […]

March is Women’s History Month, when we celebrate the women who’ve shaped our industry, as well as our communities and our country.   Abigail Adams is credited with being the first woman investor. In addition to making investments with her family’s money, she ran the farm and the family finances while her husband, John, was off arguing with Alexander Hamilton.  How about Hetty Green, […]

AFSA applauds the House Financial Services Committee for holding a hearing on Thursday, March 5, titled “Fighting Fraud on the Front Lines: Challenges and Opportunities for Financial Institutions.” This hearing is an opportunity for financial institutions to present how sophisticated technologies and new techniques are negatively affecting Americans’ pocketbooks. Affordability remains a top economic concern […]

With concern about vehicle loan delinquencies and repossessions at a high level in some corners of Capitol Hill, the latest edition of the Federal Reserve Bank of New York’s Household Debt and Credit Report sheds some new light on the state of the automotive finance market. While there is data of concern, the outlook may […]

Last week, AFSA’s State Government Affairs team submitted a comment letter in support for WV SB 702.  SB 702 is an important step toward modernizing West Virginia’s consumer credit laws by replacing an outdated tiered rate structure with a clear, 36% APR cap, improving both simplicity and access to responsible credit. This reform will help more […]

U.S. Sens. Sheldon Whitehouse (D-RI), Elizabeth Warren (D-MA), Jack Reed (D-RI), and Jeff Merkeley (D-OR)  introduced legislationthat would grant states the ability to limit consumer loan interest rates. The Empowering States’ Rights to Protect Consumers Act seeks to address the 1978 Supreme Court decision Marquette National Bank of Minneapolis v. First of Omaha Service Corporation, which ruled that a national […]

AFSA continues to work on issues relating to the implementation of the 2025 vehicle finance interest tax deduction. The deduction was part of the 2025 reconciliation package, and was designed to “deliver on presidential priorities to provide new middle-class tax relief.”  The deduction for vehicle finance interest was written to provide a deduction from income […]