This week the CFPB announced changes to its consumer complaint system to address misuse. In particular, the CFPB is working to reduce misuse of the system by people and organizations seeking to manipulate credit reports and scores by removing accurate but derogatory information.
These actions include updating procedures for Consumer Reporting Agencies (CRAs) to standardize substantive and administrative response closure categories and answers to frequently asked questions. The CFPB is also implementing two-factor authentication and providing instructions for third parties that are filing complaints on behalf of others. The CFPB is also working to educate consumers regarding credit repair scams.
AFSA is pleased to see this continued attention to these important issues.
This week the CFPB announced changes to its consumer complaint system to address misuse. In particular, the CFPB is working to reduce misuse of the system by people and organizations seeking to manipulate credit reports and scores … Read the rest
“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact AFSA… Read the rest
In a widely expected decision, the Federal Open Market Committee (FOMC) held the line on interest rates at new Fed chair Kevin Warsh’s first meeting on June 16 and 17. The federal funds rate target remains at 3.5 percent to 3.75 percent, where… Read the rest
A recent post on the Federal Reserve Bank of New York’s Liberty Street Economics blog offers a sobering look at how interest rate caps reshape the consumer lending market, often in ways their proponents may not intend.
The analysis,… Read the rest
AFSA’s State Government Affairs team submitted a comment letter raising concerns with Pennsylvania HB 2344, which would establish a coerced debt framework in PA.
While AFSA members acknowledge the serious harms of domestic violence … Read the rest
BUSINESS PARTNER WEBINAR
Why AI Implementations Fail, and How Asset Finance Lenders Can Get It Right
June 18, 2026 at 2:00 p.m. ET
Up to 95% of AI pilots fail to scale, but it doesn’t have to be that way. For asset finance lenders, the challenge… Read the rest
The National Defense Authorization Act (NDAA) for 2027 passed the House Armed Services Committee with report language that AFSA advocated and strongly supports. This report language instructs the Pentagon to examine the Military Lending… Read the rest
AFSA’s latest State Government Affairs white paper examines how consumer complaint data is collected and reported across states, highlighting significant inconsistencies in availability, categorization, and transparency that limit… Read the rest
“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan … Read the rest
