The American Financial Services Association yesterday submitted a letter to Senate Armed Services Committee Chairman Sen. James Inhofe (R-OK) supporting the 2021 National Defense Authorization Act (NDAA).
The letter highlighted AFSA members’ commitment to the well-being of our armed services, veterans and their families, noting the strong support by AFSA members for the goals of both the Military Lending and Servicemembers Civil Relief Acts. The laws offer protections for service members and their families to ensure those defending our nation can focus on the mission at hand.
To that end, the letter applauds Senator Inhofe for the committee’s rejection of an amendment that limited arbitration options or class action waivers.
“Such limitations would ultimately lead to costly, time-consuming, and adversarial litigation for service members and veterans that only serves to enrich the class action plaintiffs’ bar," wrote Ann Harter, Vice President of Congressional Affairs at AFSA. “Service members and veterans deserve the option to settle disputes through arbitration, a more expedient process where data shows that they would experience greater payouts. The courts, including the U.S. Supreme Court, have recognized arbitration as a fair and effective mode of settling disputes, and servicemembers deserve the option for quick and effective justice.”
AFSA Supports Service Members and Vets
Jul 03, 2020
The American Financial Services Association yesterday submitted a letter to Senate Armed Services Committee Chairman Sen. James Inhofe (R-OK) supporting the 2021 National Defense Authorization Act (NDAA).
The letter highlighted AFSA… Read the rest
SGA July White Paper: State AG Consumer Complaints
Jul 02, 2020
AFSA's July State Government Affairs white paper is now available. This month's white paper covers 2019 consumer complaint data from state Attorney General offices, the Federal Trade Commission and the Consumer Financial… Read the rest
July Featured Business Partner: RSM US LLP
Jul 01, 2020
July's featured Business Partner is RSM US LLP.
RSM US LLP is the leading provider of audit, tax and consulting services focused on the middle market, with 9,000 people in 90 offices nationwide. Our full range of services help specialty… Read the rest
AFSA Reiterates Support for Industrial Bank Charters
Jul 01, 2020
The American Financial Services Association (AFSA) reiterated its support for industrial banks in a comment letter this week to the FDIC. The FDIC’s proposed industrial bank rule would require certain conditions and commitments… Read the rest
SCOTUS Holds CFPB Structure Violates Separation of Powers
Jun 29, 2020
The Supreme Court today ruled in Selia Law v. CFPB that the structure of the CFPB violates the separation of powers. In an opinion written by Chief Justice John Roberts, the Court held that, “the CFPB Director’s removal protection… Read the rest
Trending Payment Data & Insights During COVID-19 on the Extra Credit Podcast
Jun 25, 2020
In this episode of the AFSA Extra Credit Podcast we talk with Mike Kaplan, CRO with PayNearMe. In mid-May, PNM unveiled a study entitled Consumer Bill Pay Trends During COVID-19. PayNearMe analyzed hundreds of thousands of bill payments made… Read the rest
Identity and Income Fraud in an Increasingly Digitized World
Jun 24, 2020
Join us on June 30 at 1:00 p.m. ET for Identity and Income Fraud in an Increasingly Digitized World, presented by AFSA.
With most dealers going digital and offering off-lot deliveries, it is more important than ever to ensure a consumer’s… Read the rest
CFPB Issues Two NPRMs on Mortgage
Jun 24, 2020
The Consumer Financial Protection Bureau (CFPB) has issued two notices of proposed rulemaking (NPRMs) to amend the Ability to Repay/Qualified Mortgage (ATR-QM) Rule. The first NPRM would extend the sunset date for a temporary category … Read the rest
AFSA Submits Letter to FTC on Endorsement Guides
Jun 23, 2020
This week, AFSA submitted a comment letter to the Federal Trade Commission (FTC) in response to the agency’s request for comment regarding its guidance on advertising, referred to as the Endorsement Guides.
AFSA addressed the need… Read the rest
Class Action Threats Facing the Consumer Finance Industry in the Age of COVID
Jun 22, 2020
Join us on June 25 at 2:00 p.m. ET for Class Action Threats Facing the Consumer Finance Industry in the Age of COVID.
Please join California-based class action defense litigators Anna McLean, Jay Ramsey, Alex Moreno, and Abby Meyer of Sheppard… Read the rest