Welcome to the 119th Congress! January will be chock full of congressional, executive, and regulatory actions. AFSA will be meeting with members this week at the start of the new Congress in order to continue to protect fair access to capital through the financial services industry. As we work to share AFSA’s message throughout Washington’s ecosystem, here are a few important dates in January to keep in mind.
January 3, 2025: Tomorrow, both the Senate and the House will meet to officially begin the 119th Congress. Both chambers will hold swearing ins. The Senate will pass an “organizing resolution,” which will officially give Republicans control of the Senate committees. The House will hold a vote to elect the Speaker of the House. Speaker Mike Johnson (R-LA) has a razor slim majority and can only survive as Speaker if all Republicans but one vote to give him the gavel. Assuming a speaker is elected, the House will then vote on its rules package.
January 6, 2025: When Congress convenes on Monday it will vote to certify the Electoral College votes. However, if a Speaker has not been elected in the House by Monday, this certification will be delayed.
January 7-9: President Jimmy Carter will lie in state in the Capitol Rotunda ahead of the state funeral. President Carter was the 39th president of the United States from 1977 to 1981. Any person who has rendered distinguished service to the nation may lie in state if the family so wishes and Congress approves. Henry Clay was the first individual to lie in state in 1865.
January 10 – 17: Most Senate committees require a week’s notice for hearings or executive committee meetings. Following the passage of the organizing resolution on Friday, committees will likely begin announcing confirmation hearing times for President-elect Trump’s nominees.
The 119th Congress
Jan 02, 2025
Welcome to the 119th Congress! January will be chock full of congressional, executive, and regulatory actions. AFSA will be meeting with members this week at the start of the new Congress in order to continue to protect fair access to capital… Read the rest
New Jersey Debt Adjuster Concerns
Dec 20, 2024
AFSA’s State Government Affairs team submitted testimony to the New Jersey Senate regarding S1310, which would permit specific for-profit debt adjusters to be licensed for conducting business in the state. These adjusters charge high… Read the rest
FTC’s Final “Junk Fees” Rule
Dec 20, 2024
The Federal Trade Commission has released its final “junk fees” rule. AFSA is pleased to report that the final rule is much narrower in scope and does not apply to financial services. The final rule includes a definition for “Covered Good… Read the rest
Lump of Coal? A Hawkish Rate Cut
Dec 20, 2024
The Federal Reserve’s Federal Open Market Committee (FOMC) on December 18 lowered the federal funds rate target by 25 basis points, a quarter percentage point. The target range now stands at 4.25 percent to 4.5 percent, a full percentage… Read the rest
A Push for a Delay in CTA
Dec 20, 2024
Yesterday, AFSA joined other trade groups in encouraging the delay of the Corporate Transparency Act’s (CTA) year-end compliance deadline for existing entities. The letter highlights the vagaries of the reporting requirements, as well… Read the rest
AFSA’s Latest C3 Index Released
Dec 19, 2024
The last few years have been challenging for consumers and providers of consumer credit alike. An historically sharp increase in interest rates, a slow slide in economic growth following a post-pandemic boom, growing household financial… Read the rest
The Industry Pulse | 2025 Vehicle Finance Conference & Expo
Dec 18, 2024
The Industry Pulse
Join our All-Star Pulse Panel for a comprehensive analysis of 2024 and predictions for 2025 in the vehicle finance ecosystem and the broader global vehicle marketplace. Get the download on the current economic environment… Read the rest
CEO Roundtable | 2025 Vehicle Finance Conference & Expo
Dec 17, 2024
CEO Roundtable
Hear from four senior leaders in the vehicle-finance industry for a fast-paced and insightful discussion on the current business environment. Explore the challenges and opportunities in the marketplace and learn how these… Read the rest
AFSA on House Financial Services Chair
Dec 13, 2024
AFSA congratulates Rep. French Hill(R-AR), on his election to the Chairmanship of the House Financial Services Committee. AFSA has worked with Representative Hill on a number of issues crucial to American consumers and the consumer credit… Read the rest
Seeking Debt Collection Clarity
Dec 13, 2024
AFSA’s State Government Affairs team submitted a comment letter to the New York Department of Consumer and Worker Protection. The department is attempting to promote fair debt collection practices and AFSA is seeking clarification of… Read the rest