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AFSA Launches Industry Survey

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AFSA is excited to launch the Consumer Credit Conditions Index (C3 Index). This initiative fills a need among lenders, policymakers, consumer-facing businesses, the financial media, and the public for a set of focused indicators that track the state of the industry. It provides crucial insights beyond what is available in other industry sentiment surveys or government statistical reports.

The index is based on a first-of-its-kind quarterly survey of AFSA’s membership of mortgage, vehicle financing, personal installment loans, credit cards, and other consumer credit products. Nearly 60 AFSA members representing the full spectrum of consumer credit responded to the initial survey, which was conducted in late March and early April.

Participants provided their views on several key indicators of business conditions. They were asked whether and to what extent conditions faced by their business improved, worsened, or stayed the same in the current quarter compared to the previous quarter, as well as their expectations for the coming six months. Questions covered overall business conditions, customer demand for loans, funding costs, and the performance of outstanding loans.

The initial set of results points to a broad-based deterioration in consumer lending business conditions to start the year. At the same time, though, survey participants anticipate an improvement in conditions over the next several months. More detailed results are available here and here .

For each question asked of survey panelists, results are used to calculate a single summary measure, the Net Improving Index (NII). The NII for current conditions questions is calculated as the percentage of participants reporting conditions “improved considerably” or “improved somewhat” minus the percentage reporting conditions “worsened somewhat” or “worsened considerably.” The NII for future conditions questions is calculated as the percentage of participants reporting they expect conditions to “improve considerably” or “improve somewhat” minus the percentage reporting they expect conditions to “worsen somewhat” or “worsen considerably.

As the survey is conducted each quarter, the NII measures derived from the results will be the key metric to track industry conditions and expectations over time. More detail on the methodology is available here.

AFSA Launches Industry Survey
Apr 18, 2024

AFSA is excited to launch the Consumer Credit Conditions Index (C3 Index). This initiative fills a need among lenders, policymakers, consumer-facing businesses, the financial media, and the public for a set of focused indicators that track… Read the rest

AFSA Expresses Concerns with APRA
Apr 17, 2024

Today, the House Energy and Commerce Subcommittee held a hearing titled “Legislative Solutions to Protect Kids Online and Ensure Americans’ Data Privacy Rights.” During this hearing, the subcommittee considered the discussion… Read the rest

Who Wins if Arbitration Loses?
Apr 11, 2024

Ahead of the Senate Judiciary Committee’s hearing entitled “Small Print, Big Impact: Examining the Effects of Forced Arbitration,” AFSA wrote to Chairman Richard Durbin (D-IL) and Ranking Member Lindsey Graham (R-SC) in supportRead the rest

AFSA FILES AMICUS IN FCRA 3RD CIRCUIT CASE
Apr 10, 2024

AFSA joined several other trades in an amicus brief in a Fair Credit Reporting Act (FCRA) case in front of the 3rd Circuit. The question in the case, Ritz v. Nissan, is whether a furnisher has to investigate not only the factual accuracy of … Read the rest

Congress Back to Work
Apr 04, 2024

Congress is back in session next week and has a full legislative agenda to work on in the months ahead. 

Impeachment: The House is likely to send its impeachment articles against Homeland Security Secretary Alejandro Mayorkas to the SenateRead the rest

Featured Business Partner | DataScan
Apr 01, 2024

The featured Business Partner for the month of April is DataScan.

DataScan has established itself as the North American leader in providing dealer floorplan lenders with technology-based solutions for wholesale asset financing and inventory

Read the rest

Women’s History Month | Celia Winslow
Mar 29, 2024

AFSA is celebrating Women’s History Month by featuring outstanding female leaders in the consumer credit industry.

What has been the most important lesson?
Understand the subjects and the people that you work with.

Was there a mentor who

Read the rest

Women’s History Month | Marci Kawski
Mar 28, 2024

AFSA is celebrating Women’s History Month by featuring outstanding female leaders in the consumer credit industry.

What has been the most important lesson?
I have learned lots of lessons over my career—it’s probably why it is called the “practice”

Read the rest

AFSA’s Letter to MA on Debt Collection
Mar 28, 2024

AFSA’s State Government Affairs team has sent a comment letter to the Massachusetts Joint Committee on Financial Services regarding Senate Bill 2638 and debt collection in the state. In the letter AFSA expresses concerns with S 2638 seeking… Read the rest

AFSA Supports NADA FTC Challenge
Mar 28, 2024

Earlier this week AFSA filed an amicus brief supporting the National Automobile Dealers Association’s (NADA) challenge to the FTC’s “Combating Auto Retail Scams Trade Regulation Rule.” The rule creates an assortment of new requirements… Read the rest

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