On Oct. 1, AFSA wrote to the Internal Revenue Service (IRS) asking that it clarify that indirect finance companies qualify for a 20 percent deduction the way direct lenders do.
The IRS issued proposed rules establishing regulations to implement the 20 percent deduction for qualified business income for individuals, partnerships, S corporations, trusts, and estates under Section 199A of the Internal Revenue Code, as established by the Tax Cuts and Jobs Act of 2017.
The proposed rule raised some issues regarding the definition of “financial services” and “loans,” as well as the purpose of credit sales. AFSA letter emphasized the importance of a level playing field between all financial institutions engaged in consumer credit – banks, lenders, and finance companies.
On Oct. 1, AFSA wrote to the Internal Revenue Service (IRS) asking that it clarify that indirect finance companies qualify for a 20 percent deduction the way direct lenders do.
The IRS issued proposed rules establishing regulations to implement… Read the rest
On September 28, the Connecticut Department of Banking issued a memo announcing a no action position regarding Section 97 of HB 5490/Public Act 18-173, which amended state law to require sales finance companies to collect and maintain records… Read the rest
The following article is part of AFSA's Business Partner Webinar Series. You can learn more during Equifax's webinar on Oct. 2 at 2 p.m. ET entitled Verify to Clarify – Know More About Your Customers to Help Grow & Increase… Read the rest
Paul Watkins, Director of the Office of Innovation at the Bureau for Consumer Financial Protection (BCFP), is the luncheon speaker Oct. 24 at AFSA’s upcoming Annual Meeting.
Watkins will shed light on the Bureau’s plans in the… Read the rest
Join AFSA on Tuesday, October 2 at 2 p.m. ET for Verify to Clarify – Know More About Your Customers to Help Grow & Increase your Portfolio Profitability, presented by Equifax.
Verifying income and employment is an essential … Read the rest
The second podcast in AFSA’s recently-launched AFSA Today series is available at afsaonline.org/podcasts.
In this podcast, AFSA’s Jack Ferry, Vice President of Communications, interviews Bill Himpler, AFSA’s Executive… Read the rest
AFSA staff attended the Bureau of Consumer Financial Protection’s (BCFP) Building a Bridge to Credit Visibility Symposium on Sept. 17, the focus of which was using innovation to build economic opportunity.
The heads of several different… Read the rest
The Bureau of Consumer Financial Protection (BCFP) this week posted a blog saying it is emphasizing growing its state and local government relationships, as part of its Strategic Plan and Objectives for this year.
“The Bureau has strong… Read the rest
Today’s financial institutions understand the power of artificial intelligence to drive profitability in their businesses. Many lenders employ data science teams who are experimenting with machine learning. But the challenge… Read the rest
