American Financial Services Association - AFSA Joins Trade Associations Requesting Extension of the PPP
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AFSA Joins Trade Associations Requesting Extension of the PPP

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The American Financial Services Association (AFSA) and fellow trade associations wrote to Congressional leaders supporting the extension of the Paycheck Protection Program (PPP). The loan program, scheduled to end on March 31, originated from the Coronavirus, Aid, Relief, and Economic Security (CARES) Act. The PPP provides assistance to small businesses to keep their employees on the payroll. Small businesses are eligible for full loan forgiveness if employers maintain employee and salary levels.

AFSA supports the PPP as outlined in the CARES Act, but has consistently advocated for changes in how the program is being implemented. For instance, AFSA has asked both the Trump and Biden administrations to make it clear that financial institutions are eligible to receive loans under the program and eligible for loan forgiveness.

AFSA Joins Trade Associations Requesting Extension of the PPP
Mar 04, 2021

The American Financial Services Association (AFSA) and fellow trade associations wrote to Congressional leaders supporting the extension of the Paycheck Protection Program (PPP). The loan program, scheduled to end on March 31, originated… Read the rest

AFSA Advocacy Successful in House-passed NDAA
Dec 11, 2020

This week, the U.S. House of Representatives overwhelmingly passed the National Defense Authorization Act. President Trump has threatened to veto the bill citing  its lack of legislative language removing legal liability protectionsRead the rest

AFSA and Federal Agencies Provide Educational Resources During COVID-19
Dec 11, 2020

Friday was officially Director Kathleen Kraninger’s second anniversary as Director of the Consumer Financial Protection Bureau (CFPB). The second year of Director Kraninger’s tenure has been marked with unprecedented challenges as … Read the rest

AFSA Comments on Electronic Service
Dec 09, 2020

AFSA’s State Government Affairs (SGA) team recently sent a comment letter to the Texas Supreme Court regarding proposed amendments to the Texas Rules of Civil Procedure that would permit electronic service of citation by social media, email,… Read the rest

Congressional Panels Urge the Administration to Simplify PPP Loans
Dec 03, 2020

This week, Federal Reserve (Fed) Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin testified before the Senate Banking Committee and House Financial Services Committee to discuss the federal government’s response to … Read the rest

CFPB Provides Critical Mortgage Resources for Consumers
Nov 13, 2020

The Consumer Financial Protection Bureau (CFPB) yesterday released a new suite of resources for consumers who may have difficult making mortgage payments as a result of the coronavirus pandemic.

AFSA encourages its members to share the … Read the rest

Remove the Rate Cap from the Jobs and Neighborhood Investment Act
Sep 02, 2020

The objectives of the bipartisan, bicameral legislation, Jobs and Neighborhood Investment Act, are laudable. These bills, H.R. 7709 and S. 4255, direct billions in new investments to help low-income and minority communities withstand… Read the rest

State Government Affairs Resources
Aug 12, 2020

State Government Affairs Resources

The State Government Affairs department develops a wealth of issues management materials to support state and local lobbying activities. These resources include talking points, white papers, 50 state

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State Government Affairs
Aug 12, 2020

The State Government Affairs Department plays an extensive, broad-based role on behalf of AFSA members by comprehensively addressing legislative and regulatory issues on the state level. In addition to direct advocacy, where appropriate,… Read the rest

AFSA Supports Uniform CECL Standards
Jul 29, 2020

Today, the American Financial Services Association (AFSA) joined several other financial services trade associations in a letter urging Congressional leaders to pass legislation to uniformly apply the Federal Accounting Standards… Read the rest

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