Last week, the House Armed Services Committee (HASC) passed the National Defense Authorization Act (NDAA) out of committee by a vote of 58-1. AFSA has long worked with both the House and Senate Armed Services Committees to ensure that harmful legislation is kept out of the NDAA. Because the legislation must pass annually, Members of Congress commonly try to attach riders to the legislation.
HFSC Chair Mike Rogers (R-AL) has supported the consumer credit industry for many years and has assured AFSA that no legislation that would impose a rate cap, curtail arbitration, or expand the Military Lending Act would be included in the House bill. He also stated that he would be prepared to fight any such legislation on the House floor when the larger body votes on the bill in July. AFSA has also worked closely with Senate Armed Services Ranking Member Roger Wicker (R-MS) to ensure that the Senate text does not include harmful provisions.
The House and Senate will have to conference their two bills to pass the same uniform legislation, so final passage of the NDAA will not be until later this year. AFSA will continue to work with the Hill on these important issues and will continue to keep members apprised of any developments.
HASC Passes NDAA
Jun 26, 2023
Last week, the House Armed Services Committee (HASC) passed the National Defense Authorization Act (NDAA) out of committee by a vote of 58-1. AFSA has long worked with both the House and Senate Armed Services Committees to ensure that harmful… Read the rest
AFSA Letter Argues for Pro-Consumer VPPs
Jun 22, 2023
AFSA sent a letter to Subcommittee on Financial Services and General Government Chair Steve Womack (R-AR) encouraging him to include language in the committee’s appropriations bill. The language would prevent the Federal Trade Commission… Read the rest
This Thursday | The Secrets To Streamlining Your Originations Processes And Fund Loans Faster
Jun 20, 2023
Join Yotam Haroosh, Director of Consumer Lending, Lightico, to gain insights into how to effectively streamline your originations processes to boost efficiency and accelerate time to funding. In this webinar, we’ll cover the latest… Read the rest
Marking Juneteenth
Jun 19, 2023
“We shall overcome because the arc of the moral universe is long, but it bends toward justice.” –Dr. Martin Luther King Jr.
Juneteenth is a commemoration of the ideals of equality, justice, and freedom, which we strive to perfect for all. In… Read the rest
Chopra Testifies
Jun 15, 2023
This week, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), appeared before both the Senate Banking and the House Financial Services Committees to deliver the CFPB’s semi-annual report to Congress. In the hearings… Read the rest
Court Rules in Milgram v. Chase
Jun 15, 2023
Last week the 11th Circuit Court released its decision in Milgram v. Chase, for which AFSA submitted an amicus brief. The court ruled in in Chase’s favor.
The plaintiff, as well as the Consumer Financial Protection Bureau (CFPB), argued that… Read the rest
Fair Lending Center Stage Part Two
Jun 14, 2023
This episode of the Extra Credit Podcast is Part Two of our conversation with, Philip Bohi, VP of Compliance Education and Dr. Adam Gailey, Principal in the Financial Economics Practice at Charles Rivers Associates, on getting your Fair … Read the rest
Elevate in Salt Lake | Federal & State Update
Jun 13, 2023
Last week, AFSA held its annual Washington Fly-In, an opportunity for many AFSA members to meet directly with a bipartisan group of legislators and policymakers to stress the importance of access to credit. Members of Congress made … Read the rest
The Secrets To Streamlining Your Originations Processes And Fund Loans Faster
Jun 13, 2023
Join Yotam Haroosh, Director of Consumer Lending, Lightico, to gain insights into how to effectively streamline your originations processes to boost efficiency and accelerate time to funding. In this webinar, we’ll cover the latest… Read the rest
Beehive State or Beer State?
Jun 09, 2023
Beehive State or Beer State?
If you’re joining us in the Beehive State for the 2023 AFSA Annual Meeting and you have a thirst for some hoppy goodness, you’re in luck. Salt Lake City may surprise you with its vibrant craft beer scene. Check… Read the rest