There are many different ways that the coronavirus threat highlights and intersects with a host of other, seemingly unrelated policy issues. For example, access to health care, the ability of hourly or part time workers to build a social or economic safety net for themselves and their families, or how federal and state government can put in place the necessary preparations and protections to meet the needs of citizens. Those are some of the big issues that policymakers grapple with.
There are also a host of smaller issues that are revealed by such things as social distancing or self-quarantining. One prime example is the importance of telephone communications. As branch offices for financial institutions reduce their hours or close, many are communicating with borrowers via phone calls. These calls relay critical information, such as adjustments to payment schedules, relief efforts, and practical information like changes in branch hours.
Now, when such calls are truly needed, banks, credit card companies, vehicle finance companies and installment lenders are running into issues due to important – and worthy – efforts by policymakers and a number of industries to tamp down illegal robocalls. Today, in their effort to block illegal calls, telecommunications companies inadvertently block legitimate calls from businesses to their customers. In addressing this pandemic, there is plenty keeping our federal and state governments busy. But if this issue isn’t addressed, financial institutions may not be able reach their customers during times when such contact is necessary. The American Financial Services Association and its members stand ready to work with policymakers and other players involved in this issue to find a solution that both protects consumers from robocalls and potential scammers, while ensuring legitimate calls reach the people who need to receive them.
There are many different ways that the coronavirus threat highlights and intersects with a host of other, seemingly unrelated policy issues. For example, access to health care, the ability of hourly or part time workers to build a social or… Read the rest
As more schools close or move online, we want to highlight the AFSA Education Foundation’s free online personal finance course, MoneySKILL®.
MoneySKILL was developed in 2002 as one of the first personal finance courses available… Read the rest
The Federal Deposit Insurance Corp. (FDIC) on March 18, 2020, approved deposit insurance applications for two companies, Square and Nelnet, to launch two, new industrial banks. The approval of industrial banks, which the American Financial… Read the rest
On March 17th American Financial Services Association President & CEO Bill Himpler, with representatives of other, select trade groups, met via phone with House Financial Services Committee (HFSC) staff to brief them on what the… 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
Premier Partners provide the American Financial Services Association with significant support to ensure the success of not only the association, but the entire consumer-finance industry. We asked the RSM LLC team, AFSA’s January… Read the rest
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
