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 […]

On April 1, AFSA posted comments on the CFPB’s proposal to establish Regulation AA. This new regulation would establish new limitations on consumer credit that exceed the CFPB’s authority. The proposal would prohibit provisions in contracts that waive federal or state laws that provide consumer benefits. One example of the negative effect of this rule […]

This week AFSA and other financial trade groups signed on to a letter in support of H.R.1777, the “Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act.” Introduced by Reps. Cliff Bentz (R-OR) and Madeleine Dean (D-PA), this bipartisan legislation will enable businesses and consumers to execute crucial documents using two-way audiovisual communication.  […]

AFSA appreciates the decision by the Consumer Financial Protection Bureau to suspend enforcement of the Payday, Vehicle Title, and Certain High-Cost Installment Loans regulation, specifically related to the payment withdrawal provisions and the payment disclosure provisions. AFSA has consistently called on the Bureau to not implement a highly flawed set of policies without first undertaking […]

This week, AFSA along with other financial associations, sent a letter urging the FDIC to withdraw its proposed rule that will negatively impact current ILC institutions and discourage future applications. In July 2024 the FDIC announced it was amending existing regulations governing parent companies of industrial banks and ILCs. This proposal will obstruct the ability […]

The latest episode of the AFSA Extra Credit Podcast features the leaders of the AFSA Education Foundation EDGE and Leadership Development programs. Why it matters: Sandena Peterson, Chris Reyes and Alan Noel share their perspectives on the importance of both THE EDGE and the Leadership Development Program, as well as some of the things they’ve […]

“Uncertainty” is a term being liberally tossed about nowadays as though it were a new concept to Washington. But as AFSA noted in its recent letter to President Trump’s Domestic Policy and National Economic teams, uncertainty has long been engendered by Washington regulators, whether at the CFPB, FTC, FCC or the Department of Defense. American […]

On March 18, 2025, AFSA submitted a comment letter in connection with the CFPB’s proposal to launch an Auto Loan Survey.  This proposal was issued on January 17, 2025. The proposal is unusual because it seeks subjective information about consumer’s opinions about matters that are outside of the CFPB’s authority.  In particular, this survey intends […]

On March 17, 2025, AFSA submitted a comment letter to the IRS regarding a proposed rule for Commercial Clean Vehicle Tax Credits.  This rule intended to clarify aspects of the Section 45W tax credit. AFSA’s letter provided an explanation of how leasing companies are seeking clean vehicle tax credits and using proceeds of those credits […]