AFSA, along with many other trade associations, sent a letter this week to Senate Commerce Committee Chairman Ted Cruz (R-TX), Senate Commerce Committee Ranking Member Maria Cantwell (D-WA), House Energy and Commerce Chairman Brett Guthrie (R-KY), and Ranking Member Frank Pallone (D-NJ) to clearly lay out a national privacy framework.
The letter states that consumers and businesses benefit when there is certainty and consistency regarding laws and enforcement of privacy protections. They lose when they must navigate a confusing and inconsistent patchwork of state laws. While the United States already has a history of robust privacy protection, Congress should adopt a federal privacy framework that fully preempts state laws for data privacy and security. Federal privacy legislation should focus on six main issues:
- Individual Rights: People should have the right to determine how personal information is used, collected, and shared.
- Transparency: Federal privacy legislation should require companies to publicly disclose their data practices.
- Responsible Data Use: Companies should limit the collection and processing of personal data to reasonably necessary purposes as disclosed to the consumer.
- Preserving Beneficial Data Uses: Federal privacy legislation should explicitly preserve the processing of personal data for such beneficial purposes as offering goods and services; using payment data to complete transactions; maintaining business operations; and offering of bona fide customer loyalty programs.
- Small Business Protections: Small businesses should benefit from federal preemption while also not being required to have the same compliance burden as larger companies.
- Reasonable Enforcement and Collaborative Compliance: Federal privacy legislation should encourage cooperation between the business community and government, not promote adversarial action that results in frivolous litigation.
AFSA Lays Out Privacy Principles
Jan 30, 2025
AFSA, along with many other trade associations, sent a letter this week to Senate Commerce Committee Chairman Ted Cruz (R-TX), Senate Commerce Committee Ranking Member Maria Cantwell (D-WA), House Energy and Commerce Chairman Brett Guthrie… Read the rest
CFPB’s Second Report on 2023 Auto Finance Data Pilot
Jan 29, 2025
Last week, the Consumer Financial Protection Bureau (CFPB) issued the second in a series of reports based on its 2023 Auto Finance Data Pilot. While the first report discussed negative equity in vehicle finance transactions, the new paper… Read the rest
The Future of the Direct-to-Consumer Model w/ Brian Chance, Katie Johar & Eva Kellershof
Jan 29, 2025
The AFSA Extra Credit Podcast is back for 2025 with fresh takes, knowledgeable experts and timely conversations on the consumer credit industry.
First up? Brian Chance and Katie Johar of EY and Eva Kellershof of NETSOL take a deep dive on the… Read the rest
California CCPA Regulations
Jan 28, 2025
AFSA’s State Government Affairs team submitted a comment letter to the California Privacy Protection Agency regarding the proposed regulations for updates to the California Consumer Privacy Act (CCPA).
AFSA expressed strong … Read the rest
FTC Welcomes New Appointees
Jan 28, 2025
AFSA would like to congratulate the new FTC Chair Andrew Ferguson. As of January 20th, FTC Commissioner Andrew Ferguson is Chair of the Federal Trade Commission, taking over for former Chair Lina Khan. As Chair Ferguson was already a confirmed… Read the rest
Time for Accountability is Now
Jan 28, 2025
AFSA, in conjunction with our members, has worked to compile a list of policy requests to bring transparency and accountability to the Consumer Financial Protection Bureau (CFPB). These policies, focused on reforming the CFPB, will decrease… Read the rest
AFSA Education Foundation (AFSAEF) in Action
Jan 22, 2025
The AFSA Education Foundation is celebrating a milestone event this year, its 35th anniversary and thanks to the generosity of AFSA member representatives giving their time and financial resources annually and to establish an endowment,… Read the rest
AFSA Supports Bipartisan Credit Repair Scam Legislation
Jan 15, 2025
Reps. Sarah McBride (D-DE) and Young Kim (R-CA) reintroduced the bipartisan “Ending Credit Repair Scams Act” (HR 306) last week. This bipartisan legislation would protect financially distressed consumers from shady credit repair organizations… Read the rest
Congratulations to the 119th Congress Chairman
Jan 15, 2025
Yesterday, AFSA sent a letter to both Senate Banking Chairman Tim Scott (R-SC) and House Financial Services Chairman French Hill (R-AR) congratulating them on their selection as chairmen for the 119th Congress, and reiterating our appreciation… Read the rest
AFSA’s Response to the Supervisory Highlights
Jan 15, 2025
Last week, AFSA responded to the CFPB’s Auto Finance Special Edition of Supervisory Highlights. While the goal of these publications is to “help industry limit risks to consumers and comply with federal consumer financial law,” this most… Read the rest