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AFSA Supports Financial Institution Customer Protection Act

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AFSA last week sent a letter to Senate Banking Committee Chairman Mike Crapo (R-ID) supporting S. 3003, the Financial Institution Customer Protection Act.

The legislation would eliminate Operation Choke Point, a former administration initiative that pressured banks to close the accounts of many legitimate businesses.

“Even though Operation Choke Point has officially ended, its effects remain.,” wrote Ann Harter, Vice President of Congressional Affairs at AFSA. “Financial services companies that follow state and federal laws are still having their accounts closed with very little explanation. Furthermore, companies that had their accounts closed may still be having trouble finding new banking relationships. Legitimate bank customers, like traditional installment lenders, which have provided safe and affordable small-dollar credit to consumers in their communities for over a century, deserve fair access and fair treatment by federal banking agencies.”

AFSA Supports Financial Institution Customer Protection Act
Dec 26, 2019

AFSA last week sent a letter to Senate Banking Committee Chairman Mike Crapo (R-ID) supporting S. 3003, the Financial Institution Customer Protection Act.

The legislation would eliminate Operation Choke Point, a former administrationRead the rest

From The CEOs Desk | Arbitrary Rate Caps Harm Instead of Help
Dec 23, 2019

Last week I had the pleasure of sitting down with reporter Kellie Meyer of Nexstar, a media company with more than 180 local broadcast affiliates across the country. Our conversation was part of a story on the woefully inaccurately titled “VeteransRead the rest

TRACED Act Passes Senate
Dec 20, 2019

The Senate yesterday passed the Pallone-Thune TRACED Act by unanimous consent. The House passed the bill earlier this month by a vote of 417-3.

The legislation is the result of a bipartisan, bicameral agreement produced by the two bodies, Read the rest

AFSA CEO UPDATE | Closing 2019
Dec 20, 2019

AFSA President & CEO Bill Himpler discusses some end-of-the-year topics and talks about ongoing work the association is undertaking moving into 2020.Read the rest

Remembering Randy Lively
Dec 19, 2019

We were saddened to recently learn of the passing of Randy Lively, and as 2019 closes we take a moment to recognize his life and salute his service to our industry.

Born Howard Randolph Lively on November 24, 1934, Randy served as a leader in theRead the rest

PRESS RELEASE | AFSA Promotes Key Association Voice
Dec 18, 2019

AFSA Promotes Key Association Voice

Celia Winslow to serve as Senior Vice President

WASHINGTON, DC (December 18, 2019) – The American Financial Services Association (AFSA) announced the promotion of Celia Winslow to Senior Vice … Read the rest

Legislation Would Deprive Consumers of Necessary Credit Options
Dec 17, 2019

Let’s call it the “Recurring Nightmare Before Christmas,” as Senators Jeff Merkley (D-OR), Doug Jones (D-AL), and Tom Cotton (R-AR) reintroduce the Unsolicited Loan Act, a bill that would ban “live” checks.Read the rest

LISTEN | Rohit Dewan on the AFSA Extra Credit Podcast
Dec 16, 2019



In this episode of the AFSA Extra Credit Podcast, we speak with Rohit Dewan, Head of Public Policy with OneMain Financial. OneMain offers personal and auto loans in 44 states. We talk about some of the issues Rohit and OneMain see in the consumer
Read the rest

Get 2020 Started Right with AFSA Webinars
Dec 15, 2019

Join us on January 22, 2020 for Top Debt Collection Issues in 2020, presented by AFSA.

2020 is shaping up to be a very interesting year in the credit and collection space. The Consumer Financial Protection Bureau hopes to have a final debt collection… Read the rest

Military Personnel are Losing Financial Services Options
Dec 13, 2019

The Credit Union Journal published a story (subscription required) regarding a provision excluded from the final version of the House-approved National Defense Authorization Act (NDAA). The language would have granted banks the same Read the rest

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