AFSA’s State Government Affairs team submitted a comment letter to the New Jersey Senate requesting amendments to S 1397. As currently written, S 1397 requires a new set of disclosures to borrowers at the time credit is initially offered. AFSA believes the legislation would create unnecessary confusion, increase compliance burdens, and inadvertently reduce access to credit for New Jersey motor vehicle dealers.
AFSA is looking to restore a previous carveout for inventory financing and introduce a floorplan exemption that was modeled in a New York law, among many other states.
This letter, along with SGA’s other recent letters, can be found on the direct advocacy section of AFSA’s website.
Exemption for Floorplan and Inventory Financing
Dec 05, 2024
AFSA’s State Government Affairs team submitted a comment letter to the New Jersey Senate requesting amendments to S 1397. As currently written, S 1397 requires a new set of disclosures to borrowers at the time credit is initially offered.… Read the rest
Who Gets the Gavel Next?
Dec 05, 2024
The House GOP’s Steering Committee is meeting next week to determine committee chairs for the 119th Congress. Four House Financial Services Committee members are in the running for the gavel following current Chairman Patrick McHenry’s… Read the rest
Greeting a New Administration
Nov 22, 2024
Yesterday, AFSA sent a letter to President-elect Trump to re-familiarize him with the mission of AFSA and its members. Recent overreach by such regulators as the Consumer Financial Protection Bureau (CFPB) have hurt businesses trying to… Read the rest
Business Partner Webinar | Secrets to Digital Excellence in Auto Finance with Lightico & GM Financial
Nov 22, 2024
Join Lightico and GM Financial on December 5th at 2:oo p.m. EST to discover how digitization is reshaping auto finance. Learn how GM Financial streamlined customer processes, improved efficiency and ensured compliance while delivering… Read the rest
2024 AFSA State Trifecta and Majority Breakdown
Nov 22, 2024
AFSA’s State Government Affairs team released their state trifecta and majority overview.
Michigan and Minnesota lost their Democrat trifectas by losing control of their respective state houses, while New Hampshire Republicans held… Read the rest
What is a Lame-Duck Session?
Nov 22, 2024
A lame-duck session of Congress occurs whenever one Congress meets after its successor is elected, but before the successor’s term begins. In current practice this means any meeting of Congress after Election Day, but before… Read the rest
AFSA + NOLA? Let’s Geaux!
Nov 18, 2024
Join the discussion with an outstanding lineup of speakers offering invaluable insights on the fast-evolving vehicle-finance landscape, tackling pressing topics, and highlighting potential challenges, opportunities, and innovative… Read the rest
AFSA State Election Watch 2024
Nov 18, 2024
AFSA’s State Government Affairs team released their 2024 Post-Election Report. The 2024 elections saw key shifts in state-level power, with Republicans making significant gains, including flipping Michigan’s House and narrowing… Read the rest
What’s Next at the CFPB?
Nov 18, 2024
In the week since the election, President-elect Trump has been announcing Cabinet nominees and presidential appointments. The nominee for CFPB Director has not yet been announced, and, even when announced, will not be able to take office… Read the rest
Industry Expertise | Insurance Rates are Nearly Unaffordable. Here’s the Impact.
Nov 13, 2024
“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan … Read the rest