AFSA submitted a comment letter on June 25 on the Bureau’s inherited regulations. As part of its “call for evidence,” the Bureau of Consumer Financial Protection sought comments and information to assist it in considering whether it should amend the regulations or exercise the rulemaking authorities that it inherited from other federal agencies. Under the acting director, the Bureau is critically examining its policies and practices to ensure they align with the Bureau’s statutory mandate.
AFSA’s comment letter focused on the Equal Credit Opportunity Act (ECOA); debt collection; unfair, deceptive, or abusive acts or practices; and electronic disclosures. The letter stated, “We hope that the Bureau: recognizes that the disparate impact doctrine is not applicable under the ECOA, modernizes and clarifies certain provisions of the [Fair Debt Collection Practices Act], provides meaningful guidance as to what constitutes an ‘abusive’ act or practice, and reviews regulations regarding electronic disclosures.”
AFSA Comments on the Bureau’s “Inherited Regulations”
Jun 25, 2018
AFSA submitted a comment letter on June 25 on the Bureau’s inherited regulations. As part of its “call for evidence,” the Bureau of Consumer Financial Protection sought comments and information to assist it in considering… Read the rest
AFSA Comments on Legislation Affecting Floorplan Lending
Jun 25, 2018
On June 25, AFSA submitted a comment letter to the California Assembly Committee on Banking and Finance in opposition to Senate Bill 1235, which would create a new set of disclosures that commercial lenders would be required to provide borrowers… Read the rest
Annual conference addresses issues In the retail automotive channel
Jun 21, 2018
Approximately 60 executives representing the leadership of the American Financial Services Association’s (AFSA) Vehicle Finance Division and the National Automobile Dealer Association’s (NADA) dealers and staff met … Read the rest
Kathleen Kraninger selected to be next BCFP Director
Jun 21, 2018
President Donald Trump this week nominated Kathleen “Kathy” Kraninger as the new Director of the Bureau of Consumer Financial Protection (BCFP).
Once confirmed by the Senate, Kraninger will replace the Bureau’s Acting… Read the rest
MoneySKILL® Now Available in Spanish
Jun 12, 2018
On Tuesday, the American Financial Services Education Foundation (AFSAEF) launched the Spanish language version of its free online personal finance course, MoneySKILL®.
“The Hispanic population in the United States … Read the rest
Affordability of new cars extends loan terms
Jun 07, 2018
The myth of the subprime bubble in the auto lending industry was dispelled by a leading analyst today at a conference of consumer finance company executives and state regulators.
Melinda Zabritski, Senior Director for Experian Automotive’s… Read the rest
“Perfect” Modern Auto Finance
Jun 06, 2018
WoltersKluwer
Learn about the problems of modern auto finance and maintaining perfection. You may be at risk if you do not follow due diligence steps closely. Some lenders never protect their interest by perfecting their lien.
As we talk to… Read the rest
Intermittent Downtime 2-3 p.m. ET Today
Jun 06, 2018
AFSA will be making small changes to the website and association database from 2:00 – 3:00 p.m. ET today. As such, you may experience intermittent disruptions accessing AFSA resources.
We apologize for the inconvenience. If you have… Read the rest
AFSA Asks the Bureau to Improve Field Hearings
Jun 01, 2018
In response to a request for information from the Bureau of Consumer Financial Protection on its external engagements, AFSA wrote that the Bureau should improve field hearings so that they provide more meaningful feedback, instead of functioning… Read the rest
Register your employees for the AFSA Leadership Development Program
May 31, 2018
Registration for the AFSA Leadership Development Program closes June 15. Don’t miss this important opportunity for your employees to participate in a 6-day intensive program focused on the development of your organization's… Read the rest