Join us on August 17, 2022 at 2:00 p.m. ET for The CFPB Flexes its Muscle in the Fair Lending and Anti-Discrimination Space: Thoughts on How to Reduce Your Risk. Earlier this year, the Consumer Financial Protection Bureau (CFPB) substantially expanded its authority to police alleged discrimination by issuing a revised Unfair Deceptive Acts and Practices […]

The Consumer Financial Protection Bureau (CFPB) today announced a series of technical readiness events in preparation for compliance with Small Business Lending data reporting requirements. “These events are targeted towards in-house technologists at financial institutions and providers or vendors that support financial institutions in building, modifying, or using software systems for regulatory compliance,” the Bureau’s […]

Last month, AFSA, along with ACA International, the Consumer Data Industry Association, and the National Automobile Dealers Association, requested that the Federal Trade Commission (FTC) delay the effective date of the Standards for Safeguarding Customer Information rule (Final Rule) until December 2023. Complying with the new rule will require the creation of new processes and extensive vetting […]

Today, the American Financial Services Association wrote to the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC), commenting on their efforts to modernize the Community Reinvestment Act (CRA). While these efforts are appreciated, the proposed inclusion of automobile loans as a mandatory part of the […]

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 Act (FCRA) does not distinguish between “legal” and “factual” inaccuracies, and thus credit reporting agencies (CRAs) may be held liable for […]

The New York Federal Reserve released a report on Tuesday noting that credit card debt in 2022 has surged in the second quarter, up $46 billion or 5.5% as compared to the first quarter. “Americans are borrowing more, but a big part of the increased borrowing is attributable to higher prices,” the report noted. The […]

AFSA’s State Government Affairs team recently released its latest White Paper. This month’s white paper is on electronic and remote online notarization. The white paper takes a deep dive on the legislative and regulatory history of electronic (e-notary) and remote online notarization (RON). More than 1.25 billion documents are notarized each year by the approximately […]

The featured AFSA Business Partner for August is Lightico. We asked them a few questions about the value of AFSA membership and some of the opportunities or challenges they face in 2022. Learn more at lightico.com. What are some key initiatives for your clients in 2022 that you are planning to support? Rising inflation and high […]

Join as an AFSA Business Partner by August 31st and receive a complimentary registration to the 2022 AFSA Annual Meeting at the historic Breakers Hotel in Palm Beach – a $1499 value! Founded in 1916, AFSA is the primary trade association for the consumer credit industry, protecting access to credit and consumer choice. AFSA members […]

The House yesterday passed H.R. 3962, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2021, also known as the SECURE Act, with a vote of 336-90. Introduced by Reps. Madeleine Dean (D-PA), Kelly Armstrong (R-ND), and 32 original bipartisan cosponsors, the SECURE Act expands the usage of Remote Online Notarizations (RONs) […]