The American Financial Services Association (AFSA) yesterday sent a letter to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Chuck Schumer (D-NY) asking that the Senate explore several measures that would help consumers and the U.S. economy recover from the coronavirus pandemic.
- Ensure businesses such as finance companies are eligible for the Paycheck Protection Program (PPP), to keep employees on the job to serve consumers;
- Exclude harmful credit provisions that would actually limit consumers’ ability to access credit.
- Update the Term-Asset Backed Securities Loan Facility (TALF) program.
- Allow finance companies to use the Main Street Lending Program (MSLP).
- Support the inclusion of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act).
- Assist the military under the Servicemembers Civil Relief Act (SCRA) with clear provisions.
- Apply relief from the Current Expected Credit Loss (CECL) standard for all the financial sector.
AFSA hopes that, as the Senate works on a new stimulus package, it continues to provide relief to millions of Americans grappling with the economic disruptions caused by the pandemic.
AFSA Asks Senate to Help Consumers
May 28, 2020
The American Financial Services Association (AFSA) yesterday sent a letter to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Chuck Schumer (D-NY) asking that the Senate explore several measures that would help consumers… Read the rest
WEBINAR TODAY | Counseling Solutions as Another Early Intervention Tool
May 28, 2020
Join us on today at 2:00 p.m. ET for Counseling Solutions as Another Early Intervention Tool, presented by Money Management International.
Money Management International (MMI) will provide an overview of currently available counseling… Read the rest
Auto Lending Economic Outlook & Digital Strategies for Risk Mitigation Behind the Deal
May 27, 2020
Join us on June 18th at 2:00 p.m. as we pick up where last month’s strategy discussion with Cox Automotive Chief Economist Jonathan Smoke left off.
Smoke will keep lenders apprised of market conditions and financial predictions –… Read the rest
AFSA Highlights Shortfalls in HEROES Act in Letter
May 26, 2020
The American Financial Services Association (AFSA) on last week (May 20) sent a letter to House Speaker Nancy Pelosi (D-CA) in regard to the HEROES Act that passed the House. AFSA is pleased to see that the legislation expands the Paycheck Protection… Read the rest
We Call it Memorial Day for a Reason
May 25, 2020
The American Financial Services Association and its members has long supported our nation’s military veterans, current servicemembers, and their families. It seems that with every passing year, the intent of Memorial Day becomes… Read the rest
Counseling Solutions as Another Early Intervention Tool
May 22, 2020
Join us on Thursday, May 28 at 2:00 p.m. ET for Counseling Solutions as Another Early Intervention Tool, presented by Money Management International.
Money Management International (MMI) will provide an overview of currently available… Read the rest
AFSA: Locked In During Lockdown
May 21, 2020
Installment Lending Meets Consumer Needs Now
May 21, 2020
The American Financial Services Association, the U.S. trade association for the consumer credit industry, has long supported increased options for consumers to access credit, including banks.
While regulators in Washington released… Read the rest
WEBINAR TOMORROW | Supporting Your Employees & Navigating Engagement
May 19, 2020
Join us on TOMORROW at 1:00 p.m. ET for Navigating Media and Consumer Engagement as We Emerge From the Pandemic presented by AFSA. The webinar will be conducted by Turbine Labs, which the association partners with to produce AFSA Daily Connect… Read the rest
Whether Lazy or Agenda Driven, Reporter Gets it Wrong
May 18, 2020
Recently, the Huffington Post published a story on the question of whether the Federal Reserve should expand one of its financing facilities, TALF, to include additional auto asset-backed securities (ABS) and consumer installment loan… Read the rest