On March 30, the American Financial Services Association joined several other trade associations on a petition to the FCC requesting an immediate ruling, clarification, or waiver regarding parts of the Telephone Consumer Protection Act. Specifically, the petitions asks that certain phone calls utilizing an auto-dialer system and text messages to consumers related to COVID-19 from financial institutions be permitted without the consent of the called party may be permitted pursuant to the TCPA’s “Emergency Purposes Exception.”
As outlined in the petition, calls and text messages related to the COVID-19 pandemic from financial institutions may include offers to defer payments, waive fees, and other relief mechanisms to help ease the financial burden for consumers, particularly those who have seen their employment disrupted. In such times of emergency, as with this pandemic, it is important that financial institutions can contact their customers with important, and often, time-sensitive calls to protect the consumer’s financial well-being.
And regrettably, the pandemic has created an environment ripe for predatory lending and fraud that will require financial institutions to issue more fraud alerts and suspicious transaction notifications.
On March 30, the American Financial Services Association joined several other trade associations on a petition to the FCC requesting an immediate ruling, clarification, or waiver regarding parts of the Telephone Consumer Protection Act.… Read the rest
Truist is pledging $25 million in philanthropic support which will for provide aid for basic needs, medical supplies, and financial hardship across the nation. The company is also offering payment relief and other programs to assist all … Read the rest
Today, the American Financial Services Association joined with other trade associations on a comment letter to Congressional leaders in support of the SECURE Notarization Act. If enacted, this legislation would expand the usage of Remote… Read the rest
The American Financial Services Association (AFSA), couldn’t help but notice today’s inter-agency notice, in which the Federal Reserve, Federal Deposit Insurance Corporation, National Credit Union Administration, Office… Read the rest
Earlier in March, RSM pledged more than $2.6 million to support its employees and local communities through the COVID-19 pandemic.
"Every employee in the U.S. and Canada may charge $50 per week for food on their expense reports through… Read the rest
Late last night, the Senate agreed to the third coronavirus stimulus package. Media coverage on the bill is comprehensive, but here’s what we think you need to know:
- There is no rate cap included;
- The bill does not deal with any non-mortgage
…
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Wells Fargo & Company on March 20 announced additional comprehensive steps to help customers, communities and employees grappling with the impact of COVID-19. The company has suspended residential property foreclosure sales,… Read the rest
The American Financial Services Association (AFSA) yesterday, March 24, asked in a comment letter to congressional leadership that they include CECL relief for depository and non-depository financial institutions in any relief package.… Read the rest
Across the country, AFSA member companies are working to ensure the customers and neighbors have access to credit in this time of financial insecurity. That's why our industry is one of the identified 16 critical infrastructure … Read the rest
