The American Financial Services Association (AFSA) submitted comments in support of several federal banking agencies’ notice of proposed rulemaking on the role of supervisory guidance. Supervisory guidance is issued by agencies in the form of (but not limited to) interagency statements, advisories, bulletins, policy statements, questions and answers, and frequently asked questions.
The letter was sent to the Office of the Comptroller of the Currency, the National Credit Union Administration, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation.
The proposed rule would codify the “Interagency Statement Clarifying the Role of Supervisory Guidance,” which reiterated the agencies’ adherence to administrative law and their recognition that “unlike a law or regulation, supervisory guidance does not have the force and effect of law.” And, further, that “supervisory guidance does not create binding legal obligations for the public.”
AFSA strongly supports the agencies for focusing on the appropriate use of guidance in the supervisory process and that supervisory criticism should be directed specifically to actions of financial institutions which cause consumers harm or violate law.
AFSA Submits Comments on Role of Supervisory Guidance
Jan 06, 2021
The American Financial Services Association (AFSA) submitted comments in support of several federal banking agencies’ notice of proposed rulemaking on the role of supervisory guidance. Supervisory guidance is issued by agencies in… Read the rest
AFSA Statement on CFPB Taskforce Report
Jan 05, 2021
Earlier today (January 5, 2020), the Consumer Financial Protection Bureau’s Taskforce on Federal Consumer Financial Law released a report with recommendations on how to improve consumer protection in the financial marketplace. You can… Read the rest
Registration Open for 2021 Vehicle Finance Conference
Jan 05, 2021
REGISTRATION IS NOW OPEN!
The 2021 Vehicle Finance Conference will be held online from February 23 through February 25.
Each day will feature three hours of fast-paced and informative keynotes and industry roundtables, along with … Read the rest
AFSA Submits Comment Letter to OCC on Fair Access to Financial Services Proposed Rule
Jan 04, 2021
On January 4, 2021, AFSA submitted a comment letter to the Office of the Comptroller of the Currency (OCC) regarding its proposed rule on Fair Access to Financial Services. This proposal reiterates that banks operating under the OCC’s governance… Read the rest
January Business Partner Spotlight: GOLDPoint Systems
Jan 04, 2021
The featured Business Partner for January is GOLDPoint Systems which offers one of the most complete Loan Management Software Systems in the Direct and Indirect market, covering the complete loan life cycle. GOLDPoint products include… Read the rest
Happy New Year!
Jan 01, 2021
From everyone at AFSA, we wish you and your loved ones have a safe and happy New Year!… Read the rest
LISTEN | Closing 2020 with AFSA President & CEO Bill Himpler
Dec 29, 2020
In this episode of the AFSA Extra Credit Podcast, we close out the year with AFSA President & CEO Bill Himpler. We discuss many of the successes the association has seen in 2020 and outline some goals to work for in 2021. Bill also highlights… Read the rest
Focus on Innovation with Keynoter Peter Diamandis, sponsored by FIS
Dec 22, 2020
Keynote sponsored by
The American Financial Services Association is pleased to announce that Peter Diamandis, Co-Founder & Executive Chairman of the XPrize Foundation, and one of the most dynamic speakers in the tech industry, will… Read the rest
AFSA Outlines 2021 Federal Priorities
Dec 22, 2020
The American Financial Services Association (AFSA) recently released its 2021 Federal Priorities. America has a full history of evolving national consumer financial protection laws aimed at ensuring consumers are fairly and responsibly… Read the rest
Disregard non-AFSA Solicitations
Dec 22, 2020
AFSA is aware of several scam companies and individuals posing as AFSA staff members offering a variety of professional contact lists. Many of the most recent messages offer discounted contact lists for upcoming conferences.
You… Read the rest