On August 21st AFSA’s State Government Affairs (SGA) team sent a letter to the Texas Privacy Protection Advisory Council in response to the council’s request for information from industry stakeholders. The five-member council was created by HB 4390 in September 2019 and must submit recommendations on statutory changes regarding consumer privacy by September 1, 2020. In the letter, AFSA stressed that the financial services industry is already subject to federal data privacy standards like the Gramm-Leach-Bliley Act and Fair Credit Reporting Act, and additional state laws imposing additional requirements on covered entities unnecessarily create a significant compliance burden with little consumer benefit.
The letter also highlighted some of the problems with existing state privacy and data protection standards, such as the California Consumer Privacy Act and the New York Department of Financial Services’ cybersecurity regulations. AFSA urged the council to institute a delayed effective date for any statutory changes to allow for a robust rulemaking process with significant input from stakeholders and ample time for covered entities to implement any required changes.
On August 21st AFSA’s State Government Affairs (SGA) team sent a letter to the Texas Privacy Protection Advisory Council in response to the council’s request for information from industry stakeholders. The five-member council was created… Read the rest
After Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger testified before the Senate Banking Committee, which AFSA summarized here, she testified before the House Committee on Financial Services.
During the July … Read the rest
Today the Senate Banking, Housing, and Urban Affairs Committee held a hearing with the Director of the Consumer Financial Protection Bureau (CFBP), Kathleen Kraninger, to discuss the Bureau’s most recent Semi-Annual Report to Congress.… Read the rest
The American Financial Services Association (AFSA) sent a letter yesterday to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Charles Schumer (D-NY) requesting that the following measures be included in the Senate pandemic… Read the rest
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
On May 12, House Democrats released a new stimulus proposal, dubbed the HEROES Act. The three-trillion-dollar bill may be voted on and passed largely along party lines this Friday. It is not expected to be taken up by the Senate.
The bill does… Read the rest
On May 7th, AFSA SVP Danielle Fagre Arlowe testified before the New Jersey Assembly Commerce and Economic Development Committee hearing on AB 3908, a bill which would make a number of changes to how credit reporting and consumer communication… Read the rest
As part of its Business Partner Webinar Series last week, AFSA hosted Equifax for Reporting Automotive Loan Payments During COVID-19 Pandemic. Drew Rosedale, Data Contributor Services Leader and Jenn Reid, VP Strategy & Marketing… Read the rest
AFSA’s State Government Affairs (SGA) team yesterday submitted a comment letter regarding Massachusetts HD 5014, which would enact emergency financial protections and forbearance for consumers and small business during the COVID-19… Read the rest
Join us on April 30 at 2:00 p.m. ET for Reporting Automotive Loan Payments During the COVID-19 Pandemic, presented by Equifax.
Drew Rosedale, Data Contributor Services Leader, Equifax and Jenn Reid, VP Strategy & Marketing, Equifax… Read the rest
