American Financial Services Association - AFSA Comment Letter Expresses Concern on Nevada Law
Member login
American Financial Services Association

AFSA Comment Letter Expresses Concern on Nevada Law

Blog Posts

AFSA’s State Government Affairs team sent a letter to the Commissioner of the Nevada Financial Institutions Division on SB 311 as a follow up to an in-person meeting with the division on August 22nd. Effective October 1, SB 311 would require creditors to deem an applicant with no credit history to have identical credit history to a spouse’s or former spouse’s credit established during a marriage. While AFSA supports measures that responsibly expand consumers’ ability to access appropriate credit, AFSA expressed concern that provisions of SB 311 appear to be legally unworkable as both the federal Fair Credit Reporting Act (FCRA) and Equal Credit Opportunity Act (ECOA) preempt state law. In the letter, AFSA requested that the commissioner issue a notice of non-enforcement and seek an opinion from the Attorney General on the preemption issues raised by the law.


AFSA’s SGA team is working closely with other trade associations in the state and the Nevada Financial Institutions Division to resolve this issue. You can view this letter, along with other comment letters at the direct advocacy section of SGA’s webpage.

AFSA Comment Letter Expresses Concern on Nevada Law
Aug 27, 2019

AFSA’s State Government Affairs team sent a letter to the Commissioner of the Nevada Financial Institutions Division on SB 311 as a follow up to an in-person meeting with the division on August 22nd. Effective October 1, SB 311 would Read the rest

AFSA IT Maintenance August 28th
Aug 22, 2019

AFSA will be making important IT infrastructure upgrades beginning at 6:00 a.m. ET on Wednesday, August 28. The AFSA website and social media accounts will not be impacted. However, AFSA staff will have intermittent access to their workstations… Read the rest

AFSA Welcomes Jason Riley at Annual Meeting
Aug 21, 2019

The AFSA Annual Meeting is right around the corner, and we are pleased to announce that The Wall Street Journal‘s Jason Riley will be a keynote speaker to our attendees. Riley, an award-winning editorial board member of The Wall StreetRead the rest

Delaware State Fund Highlights Importance of Financial Education
Aug 21, 2019

The Delaware Bank Commissioner this week will award $340,000 to schools, non-profits, and community organizations to fund financial literacy courses, according to a report from Delaware Public Media. The state last distributed financial-literacy… Read the rest

Back to School with AFSA Webinars
Aug 19, 2019

As the summer winds down and kids head back to school, it's a great time to reengage on the issues and opportunities facing the consumer credit industry. AFSA webinars are a great way to jump back in and get informed. Complimentary to AFSA… Read the rest

Federal Housing Finance Agency Releases Credit Score Model Rule
Aug 16, 2019

On August 13, 2019 the Federal Housing Finance Agency (FHFA) released a final credit score rule for Fannie Mae and Freddie Mac (the GSEs). This rule implements requirement that were enacted as part of the Economic Growth, Regulatory Relief,Read the rest

Policymakers move to protect servicemembers
Aug 15, 2019

The Consumer Financial Protection Bureau and the Arkansas attorney general’s recent settlement with Andrew Gamber and the three companies he owned and operated – Voyager Financial Group LLC, BAIC Inc. and SoBell Corp. –… Read the rest

WSJ article outlines danger of debt “settlement” companies
Aug 15, 2019

Last week, The Wall Street Journal published an article (may be behind the paywall) entitled “That Offer to Make You Debt-Free? It Can Make You Worse Off.” The piece detailed the unethical practices that the debt-settlement … Read the rest

AFSA SGA hits the road
Aug 14, 2019

Last week, AFSA State Government Affairs attended the American Association of Residential Mortgage Regulators (AARMR) 30th Annual Regulatory Conference in San Diego, California. The annual conference provides an opportunity for industry… Read the rest

Get a Jumpstart on the Future of Lending
Aug 14, 2019

Join us August 22 at 2 p.m. ET for “Future of Lending: Innovations Driving Credit Decisions,” presented by Experian. Presenter Amy Graybill, VP, USIS Strategic Initiatives will walk attendees through advancements in data … Read the rest

1 109 110 111 112 113 114 115 116 117 118 119 140