This morning, the Senate Banking Committee is holding a nomination hearing. Amongst others, the hearing is for the director designee of the Consumer Financial Protection Bureau, Jonathan McKernan.  Mr. McKernan, who previously served at the Federal Deposit Insurance Corporation (FDIC), laid out his approach to the running the CFPB in his written testimony, saying: “All too […]

Lenders face significant losses from delayed vehicle recoveries, rising costs, and compliance risks. Join our webinar to discover how MVR seamlessly integrates Impound Alerts, Vehicle Appraisals, and Recovery Services into a single, streamlined solution – helping lenders proactively manage risk, recover assets faster, and reduce financial losses. Learn how digital monitoring alerts prevent lien loss, […]

Yesterday the Federal Deposit Insurance Corporation (FDIC) withdrew its amicus brief in support of Colorado’s appeal to the US Tenth Circuit Court of Appeals. The federal district court previously enjoined Colorado’s DIDMCA opt-out law from going into effect. The three plaintiffs–AFSA, the National Association of Industrial Bankers, and the American Fintech Council–represent national, regional, and state-based […]

Join business leader, successful football and life coach, and Academy Award winner Bill Courtney for an insightful keynote session highlighting his career in building a successful global business and building up the next generation on and off the field that will both inform and inspire. Get ready for a powerful hour by viewing his Academy […]

AFSA’s State Government Affairs team sent a comment letter to the Alaska Senate regarding Senate Bill 39 and banking laws. In the letter, AFSA expresses concern that if SB 39 is passed, it would essentially remove the only accessible and affordable loans that many Alaskans rely on to build credit. Additionally, it would impose unnecessary and harmful restrictions on […]

The U.S. Senate has begun budget reconciliation, a special legislative process used to quickly advance high-priority fiscal legislation. Created by the Congressional Budget Act of 1974, reconciliation allows for expedited consideration of certain tax, spending, and debt limit legislation. The process is not subject to filibuster (obstruction of legislation requiring 60 votes to end, think Mr. […]

In the fourth quarter of 2024 consumer credit balances topped $18 trillion for the first time, according to the Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit, which draws on data from the bank’s Consumer Credit Panel/Equifax. That was an increase of $93 billion, or 0.5 percent, from the […]

In this episode of the AFSA Extra Credit Podcast, host Dan Bucherer chats with Brian Koprowski, CEO of DataScan, which works with finance companies on wholesale financing and inventory risk management across the entire loan lifecycle. See that title? Kind of right in the wheelhouse.  Brian and Dan touch on how the commercial lending landscape […]

AFSA congratulates Jonathan McKernan, who earlier today was nominated by President Trump to serve as the director of the Consumer Financial Protection Bureau. Mr. McKernan recently stepped down from his position on the FDIC Board, and has had extensive experience in the financial-services policy arena, having previously served in the Treasury Department, the Federal Housing […]

Consumer finance companies’ assessments of the current and prospective business environment improved significantly in Fourth Quarter 2024 according to the results of AFSA’s latest Consumer Credit Conditions Index Survey (C3 Survey). The full report will be released later this week. Each quarter, survey respondents share their views on the current business situation, as well as […]