This week, Rep. Sarah McBride (D-DE) testified before the House Financial Services Committee in support of the Ending Scam Credit Repair Act (ESCRA). This bipartisan bill sponsored by Reps. McBride and Young Kim (R-CA) targets deceptive credit repair organizations (CROs) that mislead consumers with high upfront fees and false promises of credit score improvements.
Representative McBride testified that, “ESCRA also prohibits CROs from jamming financial institutions with duplicative requests, which have prevented those institutions from addressing legitimate credit report issues.” Read Representative McBride’s testimony here.
With ESCRA, Representative McBride was the first Democrat to introduce legislation in the 119th Congress. It has broad support, with endorsement from the National Consumer Law Center, AARP, Consumer Action, American Bankers Association, National Association of Consumer Bankruptcy Attorneys, Consumer Bankers Association, National Association of Consumer Advocates, and American Fintech Council.
AFSA continues to work with Members of Congress to advance ESCRA through the legislative process.
This week, Rep. Sarah McBride (D-DE) testified before the House Financial Services Committee in support of the Ending Scam Credit Repair Act (ESCRA). This bipartisan bill sponsored by Reps. McBride and Young Kim (R-CA) targets deceptive… Read the rest
Join us on June 26, 2025 at 2:00 p.m. EST!
When lenders only zero-in on per-transaction fees, they miss what’s really driving up total cost of acceptance: avoidable payment exceptions, manual agent intervention and legacy technology.
Join… Read the rest

“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
AFSA’s State Government Affairs team recently submitted a lengthy letter to the New York Department of Consumer and Worker Protection (DCWP) expressing significant concerns regarding proposed amendments to debt collection rules. … Read the rest
AFSA’s State Government Affairs team submitted a veto letter to Alaska Governor Mike Dunleavy to veto S.B. 39, a well-intentioned but deeply problematic proposal to cap the Annual Percentage Rate (APR) on loans up to $25,000. If enacted,… Read the rest
AFSA’s Federal Congressional Affairs team has been monitoring U.S. Senate activity around the One Big Beautiful Bill, and hears that the Senate parliamentarian struck the provision that cut the Consumer Financial Protection Bureau’s … Read the rest

“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

“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
Last week, AFSA submitted comments to the CFPB on two changes to rules controlling how the CFPB manages supervision of covered companies. These are rules relating to supervisory designation and adjudications. In both instances, the CFPB… Read the rest
Join us on June 26, 2025 at 2:00 p.m. EST!
When lenders only zero-in on per-transaction fees, they miss what’s really driving up total cost of acceptance: avoidable payment exceptions, manual agent intervention and legacy technology.
Join… Read the rest