There has been a long-standing, albeit unwritten tradition in the midst of a transition with the U.S. Presidency and the Executive Branch, for federal agencies to suspend new rulemaking. As Senate Banking Committee Chairman Tim Scott (R-SC) noted, “It is paramount that President Trump can begin his administration on January 20th with a fresh slate […]

As the digital landscape evolves, cybersecurity threats are becoming more sophisticated and pose significant risks to organizations. This session will provide insights into the latest strategies, techniques, and tools to future-proof your team’s skills, strengthen your defenses, and effectively respond to advanced cyber-attacks. Join us to learn how to stay ahead of emerging threats and […]

AFSA offers its deepest condolences to the victims of the attack in New Orleans during the city’s New Year’s Day celebrations, and our thoughts are with our member companies, business partners and their customers who live and operate in the New Orleans area during this difficult time. The safety and security of our members and guests who attend our […]

AFSA’s State Government Affairs team released its latest white paper that highlights emerging topics in the 2024 legislative year that are expected to become highly debated issues in 2025. In 2024 artificial intelligence continued to be a key emerging issue in state legislatures nationwide. Colorado passed the first comprehensive AI legislation in the country, setting a precedent that […]

Welcome to the 119th Congress! January will be chock full of congressional, executive, and regulatory actions. AFSA will be meeting with members this week at the start of the new Congress in order to continue to protect fair access to capital through the financial services industry. As we work to share AFSA’s message throughout Washington’s ecosystem, […]

AFSA’s State Government Affairs team submitted testimony to the New Jersey Senate regarding S1310, which would permit specific for-profit debt adjusters to be licensed for conducting business in the state. These adjusters charge high fees but do not offer any additional value beyond what borrowers can already obtain for free by directly negotiating with their creditors. […]

The Federal Trade Commission has released its final “junk fees” rule. AFSA is pleased to report that the final rule is much narrower in scope and does not apply to financial services. The final rule includes a definition for “Covered Good or Service” to include only: live-event tickets or short-term lodging. AFSA worked hard to ensure that the financial […]

The Federal Reserve’s Federal Open Market Committee (FOMC) on December 18 lowered the federal funds rate target by 25 basis points, a quarter percentage point. The target range now stands at 4.25 percent to 4.5 percent, a full percentage point lower than the cyclical peak reached in September. This latest FOMC action was preceded by a 25 basis-point reduction in November and a […]

Yesterday, AFSA joined other trade groups in encouraging the delay of the Corporate Transparency Act’s (CTA) year-end compliance deadline for existing entities. The letter highlights the vagaries of the reporting requirements, as well as the legal challenges to the CTA which leaves small businesses in limbo. If enacted, this provision would provide much-needed relief to the […]

The last few years have been challenging for consumers and providers of consumer credit alike. An historically sharp increase in interest rates, a slow slide in economic growth following a post-pandemic boom, growing household financial strain, and an increasingly adversarial regulatory climate are among the factors that have weighed on borrowers and lenders. Results from […]