Last week, the American Financial Services Association joined several other groups urging the Consumer Financial Protection Bureau (CFPB) to issue an Advanced Notice of Proposed Rulemaking (ANPR) before it publishes a Notice of Proposed Rulemaking (NPRM) to amend the Fair Credit Reporting Act. AFSA and the other trades are concerned that a rushed, inadequate rulemaking process raises the stakes for dramatic changes to the foundation of the American economy.
The CFPB released its “Outline of Proposals and Alternatives Under Consideration for the Small Business Advisory Review Panel for Consumer Reporting Rulemaking” in September and AFSA submitted comments. However, the outline lacked sufficient detail to enable participants to fully identify and respond to all of the issues and implications at stake. Soliciting input from a wide range of stakeholders will help to ensure that the CFPB understands the impact a potential rule would have on consumers, the American economy, and the businesses, nonprofits, and government agencies that use information to serve the consumers who drive the American economy.
Last week, the American Financial Services Association joined several other groups urging the Consumer Financial Protection Bureau (CFPB) to issue an Advanced Notice of Proposed Rulemaking (ANPR) before it publishes a Notice of Proposed… Read the rest
Today, AFSA joined a coalition letter urging the CFPB to deny the recent Petition for Rulemaking that would establish regulation banning pre-dispute arbitration provisions in contracts for consumer financial services. AFSA opposes new… Read the rest
This week Assistant Secretary for Financial Institutions Policy, Graham Steele chaired a convening in the Treasury Cash Room. Civil rights organizations, consumer advocates, and research organizations discussed financial inclusion… Read the rest
American Financial Services Association (AFSA) has submitted comments on the Consumer Financial Protection Bureau’s (CFPB) recent action in the Fair Credit Reporting Act (FCRA) space. The letter addresses several proposed changes in… Read the rest
There has been a lot of talk recently in Washington about the appropriations process. And while it may not be as catchy as “I’m just a bill …” understanding the appropriations process is just as important and entertaining as other “Schoolhouse… Read the rest
Last week, the Senate Banking Committee held a hearing that AFSA attended and to which we submitted a letter for the record. AFSA’s main goal was to ensure that senators did not promote an extension of rate caps or an expansion of the Military … Read the rest
Today, the U.S. Senate Banking, Housing and Urban Affairs Committee held a hearing on financial protections for servicemembers and their families. In advance of the hearing, AFSA sent a letter to Chairman Sherrod Brown (D-OH) and Ranking… Read the rest
Last week, AFSA joined many other trade associations representing a vast array of financial institutions, in a letter to the Consumer Financial Protection Bureau (CFPB) requesting an extension of its comment period on the Dodd-Frank Act… Read the rest
The featured Business Partner for the month of November is Flagstar Bank.
Flagstar Bank is a leading regional bank headquartered in NY with over $100 billion in assets and a robust Corporate Banking Division. Within Corporate Banking, we … Read the rest
Our latest white paper is now available. This month’s white paper takes a deeper look into debt settlement companies.
Debt settlement companies promise to reduce consumer debt significantly, but they charge high fees and may not disclose… Read the rest
