AFSA’s State Government Affairs team submitted a comment letter to Service Oklahoma regarding the upcoming implementation of the state’s mandatory electronic lien and title (ELT) program, scheduled to begin July 1, 2025. AFSA and the National Title Solutions Forum (NTSF) expressed concern that the program is not ready for implementation and could disrupt lien perfection and […]
On April 24th AFSA Senior Vice President Danielle Arlowe testified in person before a Rhode Island committee hearing in opposition to H 6055. This bill would opt-out the state from the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). DIDMCA introduced parity for state banks, stipulating that state-chartered banks with federal insurance are also authorized to export interest […]
This week, AFSA responded to the Office of Management and Budget (OMB) Request for Information on Deregulation. This request invited the public to identify regulations that should be rescinded along with justifications for doing so. The request sought feedback on regulations that are “unnecessary, unlawful, unduly burdensome, or unsound.” AFSA’s comment requested that OMB review 14 different rules from the Consumer Financial Protection […]
Consumer Lending by the Numbers
13.7 MILLION consumers hold a traditional installment loan
13.7
million
consumers hold a traditional installment loan
82 MILLION consumers in the PRIME VALUE or better risk tier
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