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House Gives CFPB a Haircut

Articles by: gmcgurn@afsamail.org

The House Financial Services Committee approved legislation this week to reduce by almost 60 percent the funding the Consumer Financial Protection Bureau can receive from the Federal Reserve. The committee voted along party lines, 30-22, to advance its portion of a broader reconciliation package congressional Republicans are crafting to implement President Trump’s priorities. Democrats offered more than 30 amendments on various financial-services topics, but all were rejected during the nine-hour session.

The Senate Banking Committee has yet to unveil its legislative text for the reconciliation bill. The Senate and House eventually need to pass the same budget reconciliation legislation to implement any funding structure changes to the CFPB before the President can approve.

House Gives CFPB a Haircut
May 07, 2025

The House Financial Services Committee approved legislation this week to reduce by almost 60 percent the funding the Consumer Financial Protection Bureau can receive from the Federal Reserve. The committee voted along party lines, 30-22,… Read the rest

Usage-Based Models: Reinventing Auto & Equipment Finance
May 06, 2025

In today’s competitive financial landscape, staying ahead requires more than just traditional approaches to asset finance. When it comes to money at work between lenders and borrowers, usage-based financing is transforming auto and equipment… Read the rest

This Thursday | The Future of Payments: Debit-Driven Consumers, Flexible Tech, and Lower Delinquencies
May 06, 2025

Join us Thursday, May 8th at 2:00 p.m. ET!

Consumer preferences are shifting fast, and payment strategies need to keep up. In this webinar, we’ll explore how modern payment technology is helping financial institutions and merchants meet … Read the rest

THIS FRIDAY | Room Block Reservations Close May 2nd | 2025 Independents Conference & Expo
Apr 30, 2025

Start booking your rooms now!

Deadline Friday, May 2. Please call the reservations line at +1 (888) 591-1234 or use this link to reserve your guest room at the discounted AFSA rate!

You must mention you are with AFSA to receive this special Read the rest

The Future of Payments: Debit-Driven Consumers, Flexible Tech, and Lower Delinquencies
Apr 29, 2025

Join us Thursday, May 8th at 2:00 p.m. ET!

Consumer preferences are shifting fast, and payment strategies need to keep up. In this webinar, we’ll explore how modern payment technology is helping financial institutions and merchants meet … Read the rest

Room Block Reservations Close May 2nd | 2025 Independents Conference & Expo
Apr 28, 2025

Start booking your rooms now!

Deadline Friday, May 2. Please call the reservations line at +1 (888) 591-1234 or use this link to reserve your guest room at the discounted AFSA rate!

You must mention you are with AFSA to receive this special Read the rest

Bill’s Broad Language Could Unintentionally Affect TILA
Apr 28, 2025

AFSA’s State Government Affairs team submitted a comment letter to the Rhode Island Senate Committee on Commerce regarding Senate Bill 17, which addresses so-called “junk fees” and deceptive pricing practices.​

AFSA expressed concern… Read the rest

New York DMV Proposed Electronic Lien and Lease Reporting
Apr 28, 2025

AFSA’s State Government Affairs team submitted a comment letter to the New York Department of Motor Vehicles regarding proposed electronic lien and lease reporting requirements.

AFSA expressed concern that mandating all lenders and … Read the rest

AFSA Webinar | How Forward-Thinking Lenders are Future-Proofing Their Operations
Apr 23, 2025

Join us, Thursday May 8 at 2:00 p.m. EST.

In a choppy economic environment and increasingly digital marketplace, asset finance leaders face a clear choice: evolve or risk obsolescence. Legacy systems and outdated workflows are limiting … Read the rest

THIS THURSDAY | AFSA Webinar | Bridging the Communications Gap in Lending from SMS to RCS
Apr 22, 2025

Join us Thursday, April 24th at 2:00 p.m. EST!

Join Nick Babinsky, CPO of Solutions by Text, to learn how business-to-consumer messaging has evolved from the simplicity of SMS to the rich media of MMS, and now the interactive potential of RCS.Read the rest


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