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Consumer Credit Stands with American Families

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As Hurricane Ian continues to barrel across Florida and north up the Atlantic coast, and downgraded typhoons ravage the Alaskan coast, American families begin to turn to the hard task of rebuilding. In a time of very little certainty, they can be sure that consumer credit companies are there to help.

Whether it’s financing options to help rebuild directly or payment assistance on existing credit, AFSA member companies go out of their way to help their communities get back to their feet.

AFSA members are proactively activating disaster response plans, including enhanced communication via email, text and phone to inquire what consumers may need in terms of financial assistance. Consumers who already have loans or contracts with finance companies are offered a variety of tools to help them, including:

  • Hardship adjustments;
  • Waiving late fees;
  • Waiving fees for deferment and extension;
  • Rewrite programs; and,
  • Halting collection activities

Many companies also make charitable donations and reduced-cost lending options to help their communities rebuild.

For more than a century AFSA member companies have been integral to their communities and the American economy, particularly in times of need.

Consumer Credit Stands with American Families
Sep 30, 2022

As Hurricane Ian continues to barrel across Florida and north up the Atlantic coast, and downgraded typhoons ravage the Alaskan coast, American families begin to turn to the hard task of rebuilding. In a time of very little certainty, they … Read the rest

A Helpful Reminder from the CFPB
Sep 29, 2022

Today, the CFPB released a blog post entitled, Examining the potential impact of high vehicle costs on Americans with deep subprime credit scores. The report concluded, “It seems likely that many deep subprime consumers have been priced … Read the rest

White House Feeling it on Fees
Sep 28, 2022

Yesterday, President Biden gave remarks at a meeting of the White House Competition Council, which is composed of a number of administration officials, including Treasury Secretary Janet Yellen and CFPB Director Rohit Chopra.

The President’s… Read the rest

The BBB Must be Better on Consumer Credit
Sep 27, 2022

The Better Business Bureau, International (BBB) has released a report on predatory payday and cash-advance lenders and debt collection scams. The report generally raises three issues. First, the BBB says its “scam tracker” identified … Read the rest

Don’t Be Fooled … All Lenders Are Not the Same
Sep 23, 2022

The Center for Responsible Lending (CRL) is out with a new report that is a lot like its other reports on consumer credit and predatory lenders. But this time, there’s a twist.

Rather than focusing on the unhelpful fallout of state-based interest-rate… Read the rest

Senate Hearing Highlights Rate Cap Concerns
Sep 23, 2022

This week, CEOs from some of the largest U.S. banks provided testimony before the House Financial Services and Senate Banking Committees regarding several issues, including a proposal from Senator Jack Reed (D-RI) to expand the Military… Read the rest

How to Delight Your Dealer and Fund Indirect Loans Faster
Sep 20, 2022

Join us on October 6, 2022 at 1:00 p.m. ET for How to Delight Your Dealer and Fund Indirect Loans Faster, presented by Lightico.

Auto financial services companies are eager to fund deals faster and increase applications. Increasingly, technological… Read the rest

Bipartisan Agreement: ILCs Crucial
Sep 15, 2022

A bipartisan group of Senators sent a letter today expressing their support for industrial loan company (ILC) charters to Martin J. Gruenberg, acting chair of the Federal Deposit Insurance Corporation (FDIC). Led by Senators Mitt Romney… Read the rest

AFSA Pushes Back on FTC
Sep 14, 2022

On September 12 AFSA submitted a comment letter on the Federal Trade Commission (FTC) proposed Motor Vehicle Dealers Trade Regulation Rule. The Consumer Bankers Association (CBA) also joined the letter.

The Rule designates a variety of … Read the rest

2022 Virtual Fixed Income Investors Summit
Sep 12, 2022

The AFSA Fixed Income Investor Summit returns virtually for 2022.

Join finance industry executives, debt issuers, and investors virtually on Wednesday, December 14 for a fast-paced, single-day conference featuring industry updates,… Read the rest

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