AFSA submitted a letter to the Federal Trade Commission (FTC) on June 30 in response to the commission’s hearings on competition and consumer protection in the 21st century. The letter lays out the necessity for a “single, federal, risk-based standard” for data security.
“Inconsistent state laws regarding data security and the lack of a national standard for businesses that operate across state lines have resulted in uneven consumer protection, as well as significantly higher compliance costs for financial institutions,” Celia Winslow, AFSA Vice President of Legal & Regulatory Affairs wrote. “These compliance costs multiply every time a new state enacts a new-and often very different-data privacy, security and protection law.”
The letter goes on to note that financial services inextricably affects interstate commerce and so a national risk-based model from Congress, enforced on a sliding scale is necessary to ensure consumers are protected and credit remains available to consumers.
AFSA submitted a letter to the Federal Trade Commission (FTC) on June 30 in response to the commission’s hearings on competition and consumer protection in the 21st century. The letter lays out the necessity for a “single, federal,… Read the rest
Join us July 25th at 2 p.m. ET for Opportunities in Used Vehicle Financing, presented by TransUnion.
Following years of rapid growth, waning demand for new vehicles coupled with an influx in off-lease vehicles is driving focus toward used … Read the rest
AFSA members in Florida scored a big win thanks to a coalition including Sonya Deen of JM Family, AFSA’s State Government Affairs team, and numerous AFSA members. The law, which goes into effect on January 1st, 2020, will enable lienholders… Read the rest
At the 2019 FTC PrivacyCon, a representative from Consumer Reports presented a paper on an effort to investigate and determine the privacy practices of large online platforms, such as what consumer data is collected, how it is used and how … Read the rest
This week, the House Subcommittee on Communications and Technology advanced the Stopping Bad Robocalls Act, bipartisan legislation co-sponsored by Energy and Commerce Committee Chairman Frank Pallone (D-NJ) and Ranking Member Greg … Read the rest
More than 50 leaders of the American Financial Services Association’s (AFSA) Vehicle Finance Division and the National Automobile Dealer Association’s (NADA) met this week in Washington, DC, to discuss opportunities and… Read the rest
The Federal Communications Commission (FCC) today published its call-blocking Declaratory Ruling and Third Notice of Proposed Rulemaking in the Federal Register. Comments will be due 30 days after publication and reply comments will … Read the rest
AFSA has offered its support for H.R. 3182, legislation introduced by Representatives Vicente Gonzalez (D-TX), Ted Budd (R-NC) and a bipartisan group of lawmakers, to delay the implementation of the Federal Accounting Standards Board’s… Read the rest
On June 20, AFSA submitted a comment letter to the New York legislature raising concerns about AB 2078 and its companion SB 4019, which would remove liability for the early termination of a lease in the event of a lessee’s death. The bills… Read the rest
The Federal Trade Commission (FTC) is holding its fourth annual PrivacyCon on June 27, 2019.
The event promises to focus on issues related to consumer privacy and data security, both of which are issues of critical importance for the consumer… Read the rest
