AFSA sent a letter to the Small Business Administration (SBA) on April 21. AFSA wrote, “Our letter focuses on PPP eligibility, specifically: (1) agreeing that all small businesses are eligible for PPP loans, and (2) asking that the SBA clarify that financial institutions are eligible for PPP loans.”
AFSA is pleased that the SBA states clearly in the March 2021 Interim Final Rule that a business is eligible for the PPP if it is, “A small business concern under the applicable revenue-based size standard established by SBA in 13 CFR 121.201 for … industry or under the SBA alternatives size standard.” We agree that this provision implements the letter and the spirit of the PPP.
At the same time, AFSA urged the SBA to clarify that financial institutions are eligible for the PPP and for loan forgiveness. provided that they met the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) requirements.
AFSA sent a letter to the Small Business Administration (SBA) on April 21. AFSA wrote, “Our letter focuses on PPP eligibility, specifically: (1) agreeing that all small businesses are eligible for PPP loans, and (2) asking that the SBA clarify… Read the rest
This week, the U.S. House of Representatives passed the “Fair Debt Collection for Servicemembers Act” (H.R. 1491), as part of a larger package of noncontroversial measures.
Authored by Rep. Madeleine Dean (D-PA), who serves on the the Financial… Read the rest
Last week, AFSA emphasized to House Financial Services Committee members that ILCs are highly regulated and well-capitalized. AFSA’s testimony was entered into the record by Chairman Ed Perlmutter (D-CO)as part of a subcommittee hearing… Read the rest
Digital transformation is only possible when lenders can dedicate the right resources to the implementation process. In this webinar, Steve Kramer, VP Product with PayNearMe will explore proven ways to get new technology up and running… Read the rest
The U.S. House of Representatives passed the H.R 1996 – Secure and Fair Enforcement (SAFE) Banking Act of 2021, with overwhelming bipartisan support on a 321- 101 vote, including 106 Republicans.
Sponsored by Representatives Ed Perlmutter… Read the rest
The Consumer Financial Protection Bureau (CFPB) yesterday filed a complaint in federal district court alleging SettleIt, Inc., of “steering consumers into high-cost loans.” The complaint takes SettleIt to task for “self-dealing,” steering… Read the rest
RSM will present the results of its annual financial performance survey for AFSA Independents and other independently held finance companies across the United States. The results will include current trends for growth, funding, leverage,… Read the rest
The AFSA Education Foundation is pleased to announce the release of three new MoneySKILL® personal finance courses on the AFSA University training and education platform. In addition to important compliance training, companies that subscribe… Read the rest
In this episode of the AFSA Extra Credit Podcast we talk with Lane Borrello, Vice President of Public Affairs with GM Financial. Lane shares some of the tips she’s picked up during her career leading the comms shop for a number of large companies.… Read the rest
Today, the American Financial Services Association (AFSA) submitted a letter to the top ranking Democratic and Republican leaders on the House Judiciary Committee in opposition to legislation banning pre-dispute arbitration for servicemembers… Read the rest
