On January 28, Elora Rayhan from AFSA’s State Government Affairs team testified at an Oregon committee hearing in opposition to OR HB 2561. This bill would opt-out the state from the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). DIDMCA introduced a parity for state banks, stipulating that state-chartered banks with federal insurance are also authorized to export interest rates. In the testimony, AFSA raised concerns over DIDMCA state opt-outs posing as a significant threat to the business models of several of our members. The bill goes against DIDMCA’s initial intentions, which is to place state-chartered banks on an equal playing field with national banks.
While AFSA does have members who use the bank partnership model, the larger portion of our membership consists of individuals who own and oversee their own state-chartered federally insured banks, making those using the partnership model a minority within our organization.
This testimony, along with SGA’s other advocacy, can be found on the direct advocacy section of AFSA’s website.
AFSA Opposes DIDMCA Opt-out
Jan 30, 2025
On January 28, Elora Rayhan from AFSA’s State Government Affairs team testified at an Oregon committee hearing in opposition to OR HB 2561. This bill would opt-out the state from the Depository Institutions Deregulation and Monetary Control… Read the rest
AFSA Supports the TABS Act
Jan 30, 2025
AFSA is excited to support Representative Andy Barr’s reintroduction of his Taking Account of Bureaucrats’ Spending (TABS) Act. The TABS Act would bring the CFPB under congressional review and its budgetary process. Currently, the CFPB… Read the rest
AFSA Opposes State Interchange Fee Bills
Jan 30, 2025
Last week AFSA’s State Government Affairs team submitted testimony opposing Maryland HB 29 and Washington SB 5070, both of which seek to limit interchange fees on the gratuity and sales tax portions of electronic transactions. These … Read the rest
AFSA Lays Out Privacy Principles
Jan 30, 2025
AFSA, along with many other trade associations, sent a letter this week to Senate Commerce Committee Chairman Ted Cruz (R-TX), Senate Commerce Committee Ranking Member Maria Cantwell (D-WA), House Energy and Commerce Chairman Brett Guthrie… Read the rest
CFPB’s Second Report on 2023 Auto Finance Data Pilot
Jan 29, 2025
Last week, the Consumer Financial Protection Bureau (CFPB) issued the second in a series of reports based on its 2023 Auto Finance Data Pilot. While the first report discussed negative equity in vehicle finance transactions, the new paper… Read the rest
The Future of the Direct-to-Consumer Model w/ Brian Chance, Katie Johar & Eva Kellershof
Jan 29, 2025
The AFSA Extra Credit Podcast is back for 2025 with fresh takes, knowledgeable experts and timely conversations on the consumer credit industry.
First up? Brian Chance and Katie Johar of EY and Eva Kellershof of NETSOL take a deep dive on the… Read the rest
California CCPA Regulations
Jan 28, 2025
AFSA’s State Government Affairs team submitted a comment letter to the California Privacy Protection Agency regarding the proposed regulations for updates to the California Consumer Privacy Act (CCPA).
AFSA expressed strong … Read the rest
FTC Welcomes New Appointees
Jan 28, 2025
AFSA would like to congratulate the new FTC Chair Andrew Ferguson. As of January 20th, FTC Commissioner Andrew Ferguson is Chair of the Federal Trade Commission, taking over for former Chair Lina Khan. As Chair Ferguson was already a confirmed… Read the rest
Time for Accountability is Now
Jan 28, 2025
AFSA, in conjunction with our members, has worked to compile a list of policy requests to bring transparency and accountability to the Consumer Financial Protection Bureau (CFPB). These policies, focused on reforming the CFPB, will decrease… Read the rest
AFSA Education Foundation (AFSAEF) in Action
Jan 22, 2025
The AFSA Education Foundation is celebrating a milestone event this year, its 35th anniversary and thanks to the generosity of AFSA member representatives giving their time and financial resources annually and to establish an endowment,… Read the rest