Last week, the State Government Affairs team at AFSA sent a comment letter to the New York Senate regarding the proposed regulations for the New York Junk Fee Prevention Act. In the letter AFSA highlights concerns with the proposal and its wide-ranging scope and ambiguous wording which creates uncertainty for financial services.
The letter expresses that the proposed legislation would substantially increase the regulatory responsibilities imposed on AFSA members. This, in turn, would escalate operational expenses and heighten consumer eligible requirements for loans from our members. Such an outcome is likely to adversely affect the financial well-being and opportunities for financial advancement for New Yorkers without access to traditional banking credit. AFSA also cites concerns for the consequential effects of reduced financial mobility on communities and the overall state economy.
This letter, along with SGA’s other recent letters, can be found on the direct advocacy section of AFSA’s website.
Last week, the State Government Affairs team at AFSA sent a comment letter to the New York Senate regarding the proposed regulations for the New York Junk Fee Prevention Act. In the letter AFSA highlights concerns with the proposal and its … Read the rest
The Federal Trade Commission (FTC) recently released a notice of proposed rulemaking concerning “unfair or deceptive fees.” AFSA commented on the proposed rule this week, agreeing with the FTC that consumers should be protected from … Read the rest

Strengthen every relationship you build. Gain more impact and influence in your life and your business at AFSA’s 2024 Independents Conference & Expo.
AFSA is pleased to announce that Lt. Col. (ret.) Scott Mann will keynote the 2024 Independents… Read the rest
As Congressional members continue to announce retirements and election match-ups become more clear, much speculation has been put into how committee leadership will change following the 2024 elections. The process to determine chairs… Read the rest
AFSA joined with the National Association of Industrial Bankers, the Utah Bankers Association, and the Nevada Bankers Association in a letter to all Senators in opposition to S. 3538, the misnamed “Close the Shadow Banking Loophole Act,”… Read the rest
Yesterday, a bipartisan group of Members of Congress sent a letter to the Consumer Financial Protection Bureau (CFPB) to express their concerns about a CFPB nonbank procedural rule. These eight members, many of whom serve on the House Financial… Read the rest
The second of six releases that make up Alfa Systems 6, a breakthrough iteration of the Alfa Systems software platform, sets a new standard for excellence in US auto finance originations.
Alfa, a pioneer in technology for automotive finance,… Read the rest
AFSA’s State Government Affairs team recently sent a comment letter to the New Jersey General Assembly regarding NJ A1971 and S332 on collection and disclosure of personal data by certain entities. In the letter AFSA raises concerns … Read the rest
AFSA’s State Government Affairs team sent a comment letter to the Massachusetts Office of Attorney General (OAG) on the proposed regulations related to Unfair and Deceptive Fees. In the letter, AFSA highlights concerns with the proposed… Read the rest