On February 9, AFSA Senior Vice President Danielle Fagre Arlowe provided oral testimony opposing New Mexico SB 66 in a Senate Tax, Business and Transportation Committee hearing. The bill would institute an 36% all-in rate cap, which would include other charges for fees and ancillary products, on loans under $5,000. In the hearing, Arlowe pointed out that the proposed rate caps would cut off large numbers of New Mexico consumers from licensed, safe, affordable credit. The brunt of these consequences will most harshly hit subprime consumers who are often in the greatest need of safe and affordable credit.
AFSA’s Senate testimony follows a letter sent last week opposing SB 66 and raising these concerns. AFSA also previously sent letters opposing SB 66’s House companion, HB 149, and HB 99, which would impose a 36% rate cap on loans calculated under the federal Truth in Lending Act. Arlowe also testified in opposition last week to both HB 99 and HB 149.
AFSA Provides Testimony on NM All-In Rate Cap
Feb 17, 2021
On February 9, AFSA Senior Vice President Danielle Fagre Arlowe provided oral testimony opposing New Mexico SB 66 in a Senate Tax, Business and Transportation Committee hearing. The bill would institute an 36% all-in rate cap, which… Read the rest
Pivot to Digital with Ryan Deiss
Feb 16, 2021
As all businesses are forced into digital transformation by pandemics, technology, and consumer demand, what specific steps can you take to ensure your company is ready? That’s the question Ryan Deiss, Co-Founder and CEO of DigitalMarketer… Read the rest
Five Questions with February Featured Business Partner ACI
Feb 15, 2021
The featured Business Partner for February is ACI. We asked them a few questions about their business and what they’re seeing in the economy. Learn more at aciworldwide.com.
- What is the most important issue facing your company right
We’ve Got Your Conference Caffeine Fix
Feb 11, 2021
Sometimes you just need that hot cup of joe to get you going. Luckily, our 2021 Vehicle Finance Conference sponsors have you covered.
Register today to ensure you get your java gift cards!
Dunkin’ Donuts Coffee Breaks sponsored by:
… Read the restDid you register for the Vehicle Finance Conference yet?
Feb 09, 2021
You heard it straight from our CEO! Register now for AFSA’s 2021 Vehicle Finance Conference. Don’t miss our fast-paced, informative and fun agenda with industry experts and inspirational keynotes.
Join the Roundtable Discussions
Feb 09, 2021
Join industry experts for engaging roundtable discussions on a variety of topics from bankruptcy to digitization. There are eight different roundtables to choose from between two days; five on Tuesday and three on Wednesday. Don’t miss … Read the rest
LISTEN – Dissecting the CFPB Taskforce Report
Feb 09, 2021
In this episode of the AFSA Extra Credit Podcast, AFSA Senior Vice President speaks with Dr. Tom Durkin about the Consumer Financial Protection Bureau (CFPB) Taskforce Report on Federal Consumer Finance Law. The report provides a number … Read the rest
AFSA Supports Consumer Access to Financial Records
Feb 08, 2021
The American Financial Services Association (AFSA) wrote to the Consumer Financial Protection Bureau (CFPB) in support of allowing consumers to access their financial records and be able to share that data securely. In response to the CFPB’s… Read the rest
Dealing With Disruption: How the Vehicle Finance Industry Will Adapt
Feb 02, 2021
Join industry experts Ben Ellencweig, Thomas Furcher and Philipp Lühr from McKinsey & Company for a presentation of their latest perspective on automotive retail disruptions and how those will shape vehicle financing going forward… Read the rest
OCC Pauses Fair Access Rule
Feb 01, 2021
Last week, the Office of the Comptroller of the Currency (OCC) announced that it is pausing the publication of the recently finalized Fair Access Rule.
The Biden Administration has asked all federal agencies to pause rulemakings that are … Read the rest