This week Assistant Secretary for Financial Institutions Policy, Graham Steele chaired a convening in the Treasury Cash Room. Civil rights organizations, consumer advocates, and research organizations discussed financial inclusion and financial barriers that underserved communities face. This week’s meeting was one of many the Department of the Treasury is hosting in an effort to develop a National Strategy on Financial Inclusion.
During this session Deputy Secretary of the Treasury, Wally Adeyemo highlighted the importance of financial inclusion to advance racial equity and expressed the importance for continued public and private sector work to guarantee that all Americans benefit from the country’s economic progress. Deputy Assistant Security for Consumer Policy, Suzanna Fritzberg, discussed the scope of the financial inclusion strategy, tracking and benchmarking progress on financial inclusion, and priorities and recommendations for improving financial inclusion for underserved communities.
Treasury was directed to develop a national strategy to improve financial inclusion on December 29, 2022, and initiated work on the strategy in 2023. They continue to engage with a variety of stakeholders to ensure that the strategy is valuable for all market participants. They are working to ensure that their strategy is accessible and provides clear and actionable opportunities to enhance financial inclusion for the benefit of consumers.
AFSA has discussed financial inclusion with senior Treasury officials and looks forward to commenting on the request for information when it is published.
This week Assistant Secretary for Financial Institutions Policy, Graham Steele chaired a convening in the Treasury Cash Room. Civil rights organizations, consumer advocates, and research organizations discussed financial inclusion… Read the rest
American Financial Services Association (AFSA) has submitted comments on the Consumer Financial Protection Bureau’s (CFPB) recent action in the Fair Credit Reporting Act (FCRA) space. The letter addresses several proposed changes in… Read the rest
There has been a lot of talk recently in Washington about the appropriations process. And while it may not be as catchy as “I’m just a bill …” understanding the appropriations process is just as important and entertaining as other “Schoolhouse… Read the rest
Last week, the Senate Banking Committee held a hearing that AFSA attended and to which we submitted a letter for the record. AFSA’s main goal was to ensure that senators did not promote an extension of rate caps or an expansion of the Military … Read the rest
Today, the U.S. Senate Banking, Housing and Urban Affairs Committee held a hearing on financial protections for servicemembers and their families. In advance of the hearing, AFSA sent a letter to Chairman Sherrod Brown (D-OH) and Ranking… Read the rest
Last week, AFSA joined many other trade associations representing a vast array of financial institutions, in a letter to the Consumer Financial Protection Bureau (CFPB) requesting an extension of its comment period on the Dodd-Frank Act… Read the rest
The featured Business Partner for the month of November is Flagstar Bank.
Flagstar Bank is a leading regional bank headquartered in NY with over $100 billion in assets and a robust Corporate Banking Division. Within Corporate Banking, we … Read the rest
Our latest white paper is now available. This month’s white paper takes a deeper look into debt settlement companies.
Debt settlement companies promise to reduce consumer debt significantly, but they charge high fees and may not disclose… Read the rest
It was good to see new Speaker of the House of Representatives, Rep. Mike Johnson (R-LA), move quickly to get the chamber refocused on taking up the peoples’ business.
While the past several weeks created some uncertainty, it also focused attention… Read the rest
This week, AFSA commented on the Consumer Financial Protection Bureau’s Summer 2023 Supervisory Highlights. This CFPB report shares its perspective on certain practices, including new or updated areas of focus in supervisory reviews.… Read the rest
