This week, the U.S. House of Representatives passed the “Fair Debt Collection for Servicemembers Act” (H.R. 1491), as part of a larger package of noncontroversial measures. Authored by Rep. Madeleine Dean (D-PA), who serves on the the Financial Services Committee, the bill prohibits a debt collector from threatening a servicemember’s rank, security clearance, or prosecution […]

AFSA sent a letter to the Small Business Administration (SBA) on April 21. AFSA wrote, “Our letter focuses on PPP eligibility, specifically: (1) agreeing that all small businesses are eligible for PPP loans, and (2) asking that the SBA clarify that financial institutions are eligible for PPP loans.” AFSA is pleased that the SBA states […]

Last week, AFSA emphasized to House Financial Services Committee members that ILCs are highly regulated and well-capitalized. AFSA’s testimony was entered into the record by Chairman Ed Perlmutter (D-CO)as part of a subcommittee hearing on current trends in financial institution charters with a particular focus on industrial loan companies (ILCs) and whether they are sufficiently regulated. […]

Digital transformation is only possible when lenders can dedicate the right resources to the implementation process.  In this webinar, Steve Kramer, VP Product with PayNearMe will explore proven ways to get new technology up and running faster, while still hitting your short and long term goals. We’ll cover: • The challenges lenders face when making […]

The U.S. House of Representatives passed the H.R 1996 – Secure and Fair Enforcement (SAFE) Banking Act of 2021, with overwhelming bipartisan support on a 321- 101 vote, including 106 Republicans. Sponsored by Representatives Ed Perlmutter (D-CO), Nydia Velázquez (D-NY), Steve Stivers (R-OH), and Warren Davidson (R-OH), the SAFE Banking Act includes language to finally […]

The Consumer Financial Protection Bureau (CFPB) yesterday filed a complaint in federal district court alleging SettleIt, Inc., of “steering consumers into high-cost loans.” The complaint takes SettleIt to task for “self-dealing,” steering unwitting consumers into loans with its affiliated companies. The American Financial Services Association has long advocated against predatory practices and players, such as […]

RSM will present the results of its annual financial performance survey for AFSA Independents and other independently held finance companies across the United States. The results will include current trends for growth, funding, leverage, profitability, income, and expenses. RSM consultants can help you identify potential areas for improved profitability for your company based on the […]

The AFSA Education Foundation is pleased to announce the release of three new MoneySKILL® personal finance courses on the AFSA University training and education platform. In addition to important compliance training, companies that subscribe to AFSA University can now offer their employees additional personal-enrichment content in the following areas: Money Management and Budgeting Fundamentals Understanding […]

In this episode of the AFSA Extra Credit Podcast we talk with Lane Borrello, Vice President of Public Affairs with GM Financial. Lane shares some of the tips she’s picked up during her career leading the comms shop for a number of large companies. We chat about some of the easy things companies can do to […]

Today, the American Financial Services Association (AFSA) submitted a letter to the top ranking Democratic and Republican leaders on the House Judiciary Committee in opposition to legislation banning pre-dispute arbitration for servicemembers and veterans. While the bill is titled the Justice for Servicemembers Act (H.R. 2196), it would actually limit servicemembers ability to pursue justice. […]