AFSA signed a joint trade urging the Senate Banking Committee to introduce legislation to limit the threat credit repair scams pose to consumers and credit markets.
As several state and federal regulators have warned, credit repair organizations take advantage of consumers trying to improve their financial situation by inundating financial services providers with meritless and duplicative credit report claims. Unfortunately, these activities “jam” the credit reporting system with illegitimate claims that divert resources from authentic consumer disputes, which cost Americans money for no actual value.
A fair and accurate credit reporting system is essential for both hardworking Americans and businesses that provide affordable credit.
The joint trades letter asks Senate Banking Committee Chair Sen. Sherrod Brown (D-OH) and Ranking Member Sen. Tim Scott (R-SC) to modernize the Credit Repair Organizations Act and rein in credit repair scams that lure consumers with the promise of a quick fix.
The American Bankers Association, ACA International, Consumer Bankers Association, Consumer Data Industry Association, Credit Union National Association, National Association of Federally-Insured Credit Unions, National Bankers Association, and the U.S. Chamber of Commerce also signed the letter.
AFSA signed a joint trade urging the Senate Banking Committee to introduce legislation to limit the threat credit repair scams pose to consumers and credit markets.
As several state and federal regulators have warned, credit repair organizations… Read the rest
AFSA signed onto a joint trade letter urging the House Financial Services Committee to introduce legislation aimed at curbing the threat credit repair scams pose to consumers and credit markets.
As several state and federal regulators have… Read the rest
The CFPB has released a policy statement intended to explain the legal prohibition on abusive conduct in consumer financial markets. In 2010, in response to the financial crisis, Congress passed the Consumer Financial Protection Act, and… Read the rest
AFSA joined several other trades in an amicus brief in a Fair Credit Reporting Act (FCRA) case in front of the 11th Circuit. The case, Holden v. Holiday Inn Club Vacations, is over whether a furnisher has to investigate not only the factual accuracy… Read the rest
AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer.
By Badri Sridhar,
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Yesterday, AFSA submitted a comment letter to the Chairs and ranking Members of the House and Senate Armed Services Committees outlining its position on several provisions of the National Defense Authorization Act (NDAA) for Fiscal Year… Read the rest
AFSA, along with several other trade associations, submitted an amicus brief in Sessa v. TransUnion. In the case, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) argue that the Fair Credit Reporting … Read the rest
Today, AFSA commented on the several amendments under consideration before the House Rules Committee regarding the FY2023 National Defense Authorization Act (NDAA). Below is a quick summary of those amendments.
- AFSA Supports the Perlmutter
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The featured AFSA Business Partner for July is Cox Automotive Solutions.
What are some key initiatives for your clients in 2022 that you are planning to support?
Over the past several years, digital efficiency trends have increasingly helped… Read the rest
Last week, AFSA submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) in response to its request for information (RFI) regarding Buy-Now-Pay-Later (BNPL) providers. The letter outlines AFSA’s support for the Bureau’s… Read the rest
