Consumer finance companies’ assessments of the current and prospective business environment improved significantly in Fourth Quarter 2024 according to the results of AFSA’s latest Consumer Credit Conditions Index Survey (C3 Survey).… Read the rest

On Friday evening, a day after Russell Vought was confirmed as Director of the Office of Management and Budget, President Trump named him acting director of the Consumer Financial Protection Bureau.

AFSA congratulates Director Vought on… Read the rest

Yesterday, AFSA responded to the Community Development Financial Institutions Fund’s questions regarding the small dollar loan program (SDL) application. The SDL application prohibits companies that provide “high-rate loans” from… Read the rest

As part of AFSA work to bring our requests to the new acting director of the CFPB, Secretary Bessent, we signed a joint trades letter urge Secretary Bessent to withdraw the proposed rule expanding the scope of the Fair Credit Reporting Act (FCRA)… Read the rest

AFSA and other financial trade associations sent a letter yesterday to the CFPB’s new Acting Director Scott Bessett, asking him to immediately rescind its rule on the Registry of Nonbank Covered Persons Subject to Certain Agency and Court… Read the rest

This weekend, former Director Chopra announced that his tenure as head of the CFPB had concluded. Director Chopra continued to work up until his resignation became public. Late Friday, the CFPB indicated that actions that could generously… Read the rest

Today, Senators Bernie Sanders (I-VT) and Josh Hawley (R-MO) are introducing legislation to cap credit card interest rates at 10 percent. The legislation would be in effect for five years.

AFSA was quoted in the NYT opposing the bill: The… Read the rest

Today, President Trump announced that on January 31 he appointed Secretary of the Treasury Scott Bessent as acting director of the CFPB. As one of his first actions as acting director, Secretary Bessent ordered that the CFPB will:

• halt movement

In the past two months the CFPB has worked overtime – literally – to reinforce its reputation as an agency of over-reach and unaccountability. Now, with no director and a new administration that has made it clear there will be a … Read the rest