The American Financial Services Association (AFSA) recently released its 2021 Federal Priorities. America has a full history of evolving national consumer financial protection laws aimed at ensuring consumers are fairly and responsibly treated by financial institutions. Some 22 different federal laws, spanning eight different agencies, create a layered system of laws that protect consumers. The steady progression of these laws promotes a rich and diverse economy where consumers have tremendous choice in accessing a myriad of credit products from a wide variety of sources. As our economy continues to evolve, our consumer finance laws must account for the needs of both consumers and business. With an eye toward improving our existing system, we offer the 2021 Federal Priorities to strengthen and improve the marketplace for today’s consumers.
AFSA Outlines 2021 Federal Priorities
Dec 22, 2020
The American Financial Services Association (AFSA) recently released its 2021 Federal Priorities. America has a full history of evolving national consumer financial protection laws aimed at ensuring consumers are fairly and responsibly… Read the rest
Disregard non-AFSA Solicitations
Dec 22, 2020
AFSA is aware of several scam companies and individuals posing as AFSA staff members offering a variety of professional contact lists. Many of the most recent messages offer discounted contact lists for upcoming conferences.
You… Read the rest
Mass. High Court Issues Opinion in State-mandated Default Notice Case
Dec 18, 2020
AFSA is sharing the below case summary with members with permission from K&L Gates. The original can be found here. AFSA signed onto a joint amicus brief in this case available here.
THE MASSACHUSETTS SUPREME JUDICIAL COURT HOLDS STATE-MANDATED… Read the rest
FDIC Finalizes ILC Rules
Dec 18, 2020
This week, the FDIC finalized a rule to require certain conditions and commitments for each deposit insurance application approval from an industrial bank or industrial loan company (ILC) whose parent company is not subject to consolidated… Read the rest
AFSA Supports Remote Online Notarizations
Dec 17, 2020
Today the American Financial Services Association (AFSA) joined several other financial services trade associations and organizations in a letter urging Congressional leaders to include the bipartisan Securing and Enabling Commerce… Read the rest
LISTEN | CFPB’s Mark McArdle on Mortgage Resources
Dec 17, 2020
In this episode of the AFSA Extra Credit Podcast, we speak with Mark McArdle, Assistant Director, Mortgage Markets with the Consumer Financial Protection Bureau (CFPB). Mark handles several different areas within the mortgage markets… Read the rest
AFSA Comments to CFPB on Payday Loan Disclosures
Dec 16, 2020
This week, the American Financial Services Association (AFSA) commented on the payday loan disclosures designed by the Consumer Financial Protection Bureau (CFPB).
AFSA emphasized that the definition of “payday loan” should be included… Read the rest
WATCH | Essentials for Success in the New Economy: Gaining ROI on Digital Strategies
Dec 16, 2020
Join us TOMORROW at 2:00 p.m. ET for Essentials for Success in the New Economy: Gaining ROI on Digital Strategies, presented by
The shift to digital financial services has been happening for years, but COVID has been a reality check for firms… Read the rest
AFSA Comments on Small Business Lending Rulemaking
Dec 15, 2020
“Small businesses are crucial to the American economy and to the millions of Americans who run them, are employed by them, and who patronize them,” AFSA wrote to the CFPB this week, adding, “Credit availability, in turn, is critical to the well-being… Read the rest
AFSA Comments on PACER Access Legislation
Dec 14, 2020
The American Financial Services Association (AFSA) today submitted a comment letter to Judiciary Committee Chair Lindsey Graham (R-SC) urging that he amend H.R. 8235 the Open Courts Act. The bill, as drafted, would allow free access to the… Read the rest