AFSA is pleased that the CFPB has dropped its suit against Credit Acceptance Corporation. From the start, this litigation was a clear example of the CFPB’s attempt to reverse well-settled law and invent new requirements that were contrary to existing statutes and regulations. As AFSA and others pointed out in an amicus brief written by […]

Join us, Thursday May 8 at 2:00 p.m. EST. In a choppy economic environment and increasingly digital marketplace, asset finance leaders face a clear choice: evolve or risk obsolescence. Legacy systems and outdated workflows are limiting visibility, responsiveness, and the ability to scale. Join AFSA, SBS, and Vero for a candid, forward-looking conversation with industry […]

Join us Thursday, April 24th at 2:00 p.m. EST! Join Nick Babinsky, CPO of Solutions by Text, to learn how business-to-consumer messaging has evolved from the simplicity of SMS to the rich media of MMS, and now the interactive potential of RCS. This evolution reflects more than just advances in technology, but a shift in […]

AFSA received a copy of a CFPB memo that outlines changes to the Bureau’s supervision and enforcement priorities. Some of the highlights from the memo are: The Bureau is prioritizing “pressing threats to consumers, particularly service members and their families and veterans.” The Bureau is shifting resources away from enforcement and supervision that can be […]

Today, AFSA sent a letter to Reps. Andy Barr (R-KY) and Vicente Gonzalez (D-TX) in support of HR 1653 – the “Civil Investigative Demand Reform Act” (CID Reform Act). Under the previous CFPB Director, the Bureau severely misused its civil investigative demand authority with burdensome examinations against regulated financial institutions. These investigations often begin with vague […]

Join us Thursday, April 24th at 2:00 p.m. EST! Join Nick Babinsky, CPO of Solutions by Text, to learn how business-to-consumer messaging has evolved from the simplicity of SMS to the rich media of MMS, and now the interactive potential of RCS. This evolution reflects more than just advances in technology, but a shift in […]

On April 11, 2025, the CFPB issued an announcement that the Bureau will not base enforcement or supervision decisions on participating in the Non-Bank Registry.  The Non-Bank Registry was established to require certain finance companies to report enforcement actions and similar events as a means of “naming and shaming” the consumer finance industry. AFSA has […]

The FCC announced today that it is granting a one-year extension on the compliance date for portions of TCPA rules scheduled to go into effect April 11.  The delayed implementation relates to the requirement to stop ALL calls or texts when a consumer revoked consent to receive any call.  The remaining provisions of this rule went […]

On April 2, 2025, AFSA commented on the CFPB’s rule regarding data brokers under the Fair Credit Reporting Act (FCRA). AFSA requested that the CFPB withdraw the rule. The proposed rule would expand the definitions of “consumer report” and “consumer reporting agency” beyond the definitions provided under existing law. As these definitions and related substantive […]

AFSA’s April State Government Affairs white paper is now available. This month’s white paper highlights the rapid growth of non-housing consumer debt, with debt settlement companies emerging as a popular but often misleading solution for struggling consumers. Despite claims of reducing debt significantly, these companies typically charge high fees, harm credit scores, and offer low success rates, leading to further financial […]