The CFPB has announced changes to its procedures for imposing risk-based supervision on non-bank consumer finance companies. Earlier this year, the CFPB asked for comments on making changes to these procedures. AFSA commented, agreeing with the CFPB that its proposed changes would be helpful to reduce coercion of consumer finance companies and reduce unfairness.
The new changes track AFSA’s comments, restoring confidentiality to the supervisory designation process and making it more deliberative. Originally, the process involved CFPB staff making recommendations to the Director, but power was concentrated with the Director in later versions. We are pleased to see that the CFPB has gone back to the initial approach. This final rule will be effective October 27.
Changes to Risk-Based Supervision Rules
Sep 25, 2025
The CFPB has announced changes to its procedures for imposing risk-based supervision on non-bank consumer finance companies. Earlier this year, the CFPB asked for comments on making changes to these procedures. AFSA commented, agreeing… Read the rest
End CFPB Vehicle Finance Supervision
Sep 25, 2025
On September 22, 2025, AFSA submitted a comment letter in response to the CFPB’s advance notice of proposed rulemaking (ANPR) on supervision of vehicle finance companies. The ANPR asked for thoughts on changing the way the CFPB supervises… Read the rest
Remembering Sharon Moore
Sep 24, 2025
Sharon Moore, February 1, 1947-September 21, 2025
AFSA was saddened to learn today that longtime consumer industry professional Sharon Moore passed away. Sharon was deeply involved in the consumer loan industry for decades serving in various
Financial Scams Spotlighted on Capitol Hill
Sep 23, 2025
The House Financial Services Committee recently held a hearing on various financial frauds and scams, and in advance of the hearing AFSA sent a letter to the committee highlighting several scams currently affecting consumers and lenders,… Read the rest
The Fed Resumes Cutting
Sep 23, 2025
As was widely expected, the Federal Reserve cut interest rates, lowering the target range for the federal fund rate by 25-basis points between 4 percent to 4.25 percent. The Federal Open Market Committee, the Fed’s interest rate policy body,… Read the rest
This Thursday | AFSA Webinar | LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE
Sep 23, 2025
BUSINESS PARTNER WEBINAR
LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE
SEPTEMBER 25, 2025 AT 2:00 P.M. EST
Refunds may seem routine—but for auto lenders, they’ve become a hidden source of cost, compliance risk, and customer
AFSA Webinar | AUTO FINANCE IN TRANSITION: WINNING IN THE AGE OF DIGITAL, EVS, AND EMBEDDED LENDING
Sep 19, 2025
BUSINESS PARTNER WEBINAR
AUTO FINANCE IN TRANSITION: WINNING IN THE AGE OF DIGITAL, EVS, AND EMBEDDED LENDING
OCTOBER 2, 2025 AT 2:00 P.M. EST
The U.S. auto finance market is shifting fast. With over $1.5 trillion in outstanding loans and EVs
Lending Power: How Consumer Credit is Shaping the U.S. Economy | 2025 Annual Meeting
Sep 18, 2025
Lending Power: How Consumer Credit is Shaping the U.S. Economy
Consumer lending isn’t just a financial service; it’s a cornerstone of U.S. economic performance and touches nearly every part of American life—from buying a car to starting … Read the rest
Protecting or Preventing? How Rate Caps Deny Credit
Sep 17, 2025
A small group of Senate Democrats recently introduced the Protecting Consumers from Unreasonable Credit Rates Act, which would cap fees and interest on consumer loans at an APR of 36 percent. While we appreciate the goal of barring unregulated… Read the rest
AFSA Webinar | LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE
Sep 16, 2025
BUSINESS PARTNER WEBINAR
LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE
SEPTEMBER 25, 2025 AT 2:00 P.M. EST
Refunds may seem routine—but for auto lenders, they’ve become a hidden source of cost, compliance risk, and customer