This week, the House Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences, which sought to explore the interaction and economic impact of federal banking agencies’ recent regulatory proposals. AFSA submitted a letter detailing its grave concerns regarding the Consumer Financial Protection Bureau’s use of its Policy Statement on Abusive Acts and Practices.
The letter highlighted the very broad and amebous parameters that might be considered abusive to the Bureau. Among many others, these include “negative consumer outcomes,” arbitration, customer support taking too long, complicated products, and anything a consumer deems abusive.
The CFPB claims it doesn’t matter if the business in question causes a consumer’s lack of understanding through untruthful statements or if the consumer simply claims not to understand. Either is abusive.
The letter goes on to note that the policy statement is just the latest and clearest example of regulatory overreach. Read more about AFSA’s stance in this blog post.
Accountability is Paramount
Sep 21, 2023
This week, the House Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences, which sought to explore the interaction and economic… Read the rest
AFSA Supports SAFER Banking Bill
Sep 20, 2023
A bipartisan group of Senators led by Jeff Merkley (D-OR), Steve Daines (R-MT), Kyrsten Sinema (I-AZ), and Cynthia Lummis (R-WY) announced the introduction of a new cannabis-related banking bill today, the Secure and Fair Enforcement Regulation… Read the rest
News from our Members | Alfa Announces Free Scope 3 Emissions Reporting
Sep 20, 2023
Alfa Announces Free Scope 3 Emissions Reporting
Alfa Systems
Alfa, the makers of Alfa Systems – the first-choice software platform for providers of asset finance, worldwide – has announced new functionality to help its customers
Joint Trades Sound Alarm
Sep 20, 2023
AFSA joined seven other leading financial services trade associations on a letter to Sen. Josh Hawley (R-MO) expressing concern about the Capping Credit Card Interest Rates Act (S.2760), which would cap credit cards’ APR at 18%.
The letter… Read the rest
One Revolution: Chris Waddell
Sep 19, 2023
Join us at the 2023 Annual Meeting in Salt Lake City to be motivated and inspired by Chris Waddell’s life journey and learn how you can embrace his hard-earned wisdom for yourself, your team, and business for the challenges ahead.
Get ready for… Read the rest
News from our Members | How Title Release Impacts Auto Retail
Sep 18, 2023
How Vehicle Title Release Impacts Auto Retailing Overall
Cox Automotive
Routine title management is anything but: Paper vs electronic and release to third parties for resale, wholesale and insured total loss bring much complexity to loan
Local SEO: The Missing Piece To Your Marketing Success
Sep 15, 2023
Join us on September 21, 2023 at 2:00 p.m. ET for Local SEO: The Missing Piece To Your Marketing Success, presented by Amsive.
Join Bambi Frazier, Sr. Manager of Local SEO and Content at Amsive, to discuss why inflation rates and interest rates… Read the rest
Save the Date | 2024 Vehicle Finance Conference & Expo
Sep 14, 2023
Influential Speakers. Gain insights and inspiration from incredible speakers, including our keynote: Gian Paul Gonzalez, the New Jersey teacher who inspired the New York Giants before the 2012 Super Bowl … and such Fortune 500 companies… Read the rest
Another Misguided APR Bill
Sep 11, 2023
Media reports indicate that Sen. Josh Hawley (R-MO) will introduce legislation that would cap consumer credit card annual interest percentage rates (APR) at 18 percent. This is a misguided effort at populist politics that will harm the very… Read the rest
TODAY | Hotel Room Cut Off for 2023 Annual Meeting
Sep 08, 2023
Did you reserve your room yet?
If not, you’re running out of time. The deadline for hotel reservations at AFSA’s special rate for the 2023 Annual Meeting is TODAY, September 8th!
The rooms won’t last. For more information… Read the rest