AFSA’s State Government Affairs team submitted a comment letter to the New York Department of Motor Vehicles regarding proposed electronic lien and lease reporting requirements.
AFSA expressed concern that mandating all lenders and lessors to use a single third-party vendor for electronic reporting would create unnecessary burdens, increase costs, and delay processing for vehicle titles in New York. AFSA members already work directly with the DMV to ensure accurate and timely lien and lease recording.
The proposal offers little flexibility for national lenders and could disrupt access to vehicle financing across the state. AFSA recommended that the DMV revise the rule to allow for direct reporting or a choice of approved vendors, in line with practices in other states.
This, along with other SGA letters, can be found on the direct advocacy section of AFSA’s website.
AFSA’s State Government Affairs team submitted a comment letter to the New York Department of Motor Vehicles regarding proposed electronic lien and lease reporting requirements.
AFSA expressed concern that mandating all lenders and … Read the rest
AFSA is pleased that the CFPB has dropped its suit against Credit Acceptance Corporation. From the start, this litigation was a clear example of the CFPB’s attempt to reverse well-settled law and invent new requirements that were contrary
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Join us, Thursday May 8 at 2:00 p.m. EST.
In a choppy economic environment and increasingly digital marketplace, asset finance leaders face a clear choice: evolve or risk obsolescence. Legacy systems and outdated workflows are limiting … Read the rest
Join us Thursday, April 24th at 2:00 p.m. EST!
Join Nick Babinsky, CPO of Solutions by Text, to learn how business-to-consumer messaging has evolved from the simplicity of SMS to the rich media of MMS, and now the interactive potential of RCS.… Read the rest
AFSA received a copy of a CFPB memo that outlines changes to the Bureau’s supervision and enforcement priorities. Some of the highlights from the memo are:
- The Bureau is prioritizing “pressing threats to consumers, particularly service
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Today, AFSA sent a letter to Reps. Andy Barr (R-KY) and Vicente Gonzalez (D-TX) in support of HR 1653 – the “Civil Investigative Demand Reform Act” (CID Reform Act).
Under the previous CFPB Director, the Bureau severely… Read the rest
Join us Thursday, April 24th at 2:00 p.m. EST!
Join Nick Babinsky, CPO of Solutions by Text, to learn how business-to-consumer messaging has evolved from the simplicity of SMS to the rich media of MMS, and now the interactive potential of RCS.… Read the rest
On April 11, 2025, the CFPB issued an announcement that the Bureau will not base enforcement or supervision decisions on participating in the Non-Bank Registry. The Non-Bank Registry was established to require certain finance companies… Read the rest
The FCC announced today that it is granting a one-year extension on the compliance date for portions of TCPA rules scheduled to go into effect April 11. The delayed implementation relates to the requirement to stop ALL calls or texts when … Read the rest
On April 2, 2025, AFSA commented on the CFPB’s rule regarding data brokers under the Fair Credit Reporting Act (FCRA). AFSA requested that the CFPB withdraw the rule.
The proposed rule would expand the definitions of “consumer report” and … Read the rest
