The American Financial Services Association (AFSA) filed an amicus brief before the Missouri Supreme Court in a case involving the enforceability of arbitration provisions in loan agreements. In Bridgecrest Acceptance Corp. V. Kelly Donaldson and Robert Haulcy, AFSA wrote in support of the Plaintiff (Bridgecrest Acceptance), arguing that a lower court’s recent decision to not apply an arbitration agreement was at odds with binding legal precedent set by the higher court. In addition, the brief contended that the Appeals Court ignored the mandate of the Federal Arbitration Act, along with both U.S. and Missouri recognition of arbitration as a preferred means of dispute resolutions.
A serious concern is that the lower court’s decision adds to the already inconsistent and unpredictable application of Missouri law surrounding arbitration agreements. AFSA wrote that “because the Eastern District’s opinion…adds to the uncertainty that plagues entities attempting to do business or considering doing business in Missouri, it is crucial that this Court recognize the existence of its clear-cut rule concerning what constitutes a valid arbitration provision…”
AFSA Files Amicus Brief in Arbitration Case
Sep 29, 2021
The American Financial Services Association (AFSA) filed an amicus brief before the Missouri Supreme Court in a case involving the enforceability of arbitration provisions in loan agreements. In Bridgecrest Acceptance Corp. V. Kelly … Read the rest
House Passes National Defense Authorization Act
Sep 27, 2021
Last week, the U.S. House of Representatives passed the FY2022 National Defense Authorization Act (NDAA), which included three amendments on which AFSA commented in a previous letter to the House Rules Committee. AFSA supported … Read the rest
The Customer Experience Journey: Is Your Company Keeping Up With The Times?
Sep 24, 2021
AFSA Comments on Proposed Rules from California DFPI
Sep 21, 2021
On September 17, AFSA submitted comments in response to proposed rules from the California Department of Financial Protection and Innovation (DFPI). The proposed rules set forth requirements for licensees to establish a process for receiving… Read the rest
AFSA, Joint Trades Comment on Tax Provisions in Reconciliation Package
Sep 17, 2021
Today, AFSA and about thirty other financial services trades sent a letter to the House Speaker Pelosi and Minority Leader McCarthy in advance of their consideration of a tax provision in the reconciliation package. The provision, which … Read the rest
Remarks from the FDIC You Can Bank On
Sep 16, 2021
AFSA is pleased to announce that Jelena McWilliams is confirmed as a featured speaker for AFSA’s Annual Meeting in Washington, D.C., from October 24 through October 27.
Ms. McWilliams was sworn in as the 21st Chairman of the FDIC on June 5, 2018.… Read the rest
Precision Decision: Using AI For Replicable 24/7 Lending
Sep 15, 2021
Consumers have been trained by the big tech companies to expect instant 24/7 everything, including loan approvals. AI-driven lending, by using more data and smarter math, delivers consistent and fast credit decisions even when the human… Read the rest
Cannon Confirmed: Get Ready to Be Blown Away!
Sep 14, 2021
AFSA is proud to confirm Carl M. Cannon, the dean of Washington political journalists, as a keynote speaker at its Annual Meeting in Washington, D.C. Cannon will share his almost 40 years of political insights and experiences with AFSA attendees,… Read the rest
Highlighting the Role of Credit Reporting for Consumers
Sep 10, 2021
The credit report is one of the most important pieces of financial information available to consumers nationwide. It is the key to unlocking more lending options for a new home or car and even enhanced rental opportunities. The beauty of the… Read the rest
September White Paper is Out!
Sep 09, 2021
AFSA’s State Government Affairs September White Paper covers municipal debt collection laws. In addition to state and federal laws governing debt collection, at least five municipalities have gone beyond the federal and state restrictions… Read the rest