The American Financial Services Association and its members understand that in this time of anxiety around consumers’ own health and safety, as well as that of their families, loved ones and friends, there is also concern about their financial security.
Federal agencies that work with the financial services industry have put forward policy guidance in this area. For example, the FDIC is providing guidance to financial institutions to take prudent steps to assist customers and communities affected by the coronavirus, including efforts to modify the terms on existing loans for affected customers. The Consumer Financial Protection Bureau has also issued consumer guidelines to address concerns about loans.
When considering loan options, consumers should be aware of very real differences between a traditional installment loan and a riskier payday loan. When considering short-term options, consumers can access additional, helpful information here. As well, the AFSA Education Foundation offers great, free resources that empower consumers and assist them with their financial planning.
As with so many other industries that serve consumers, our thoughts are with our neighbors, and that they take the steps necessary to remain safe and healthy. For updated and additional information on the coronavirus, please visit coronavirus.gov.
The American Financial Services Association and its members understand that in this time of anxiety around consumers’ own health and safety, as well as that of their families, loved ones and friends, there is also concern about their… Read the rest
On March 11, AFSA joined with other trade associations, including the Washington State Financial Services Association and Card Coalition to send a letter to the Washington legislature opposing the inclusion of a private right of action … Read the rest
The safety and security of AFSA members and their customers is our top priority. To that end, AFSA has established a Coronavirus Resource Page for members containing key documents from federal, state and local government agencies, as well… Read the rest
AFSA just received an order from Riverside County, California, where the La Quinta Resort is located. It orders that all events with attendance “of at least 250 individuals taking place between March 12, 2020 and April 30, 2020…are… Read the rest
This week, AFSA submitted a comment letter to the Federal Communications Commission (FCC) on the Technical Requirements Document (TRD) for the recently approved Reassigned Numbers Database (RND). The TRD outlines the technical responsibilities… Read the rest
Join us on March 19 at 2:00 p.m. ET for Understanding & Analyzing Your Merchant Statements, presented by PayNearMe.
Merchant statements can be difficult to understand. No two are alike, and this confusion causes many lenders to underestimate… Read the rest
AFSA's Danielle Fagre Arlowe is appearing on the panel “Debt Relief Options Through Creditors" now at the Consumer Financial Protection Bureau's (CFPB) day long event entitled, “Evolutions in… Read the rest
Free and fair elections are one of the hallmarks of American democracy. They do, however, create some legislative and regulatory uncertainty. Join us at the 2020 Independents Conference & Expo where AFSA experts Danielle Fagre … Read the rest
The Consumer Financial Protection Bureau on March 10 is hosting a day long event entitled, “Evolutions in Consumer Debt Relief.” The event will explore options for consumers facing unmanageable unsecured debt and limited … Read the rest
