The American Financial Services Association is disappointed that Members of the House last night (January 29) approved H.R. 3621, “The Comprehensive CREDIT Act”, which actually harms the very consumers Congress claims to be trying to help by further empowering unscrupulous credit-repair organizations and the plaintiffs’ bar.

In this episode of the AFSA Extra Credit Podcast, we’re speaking with Stan Butler, President & CEO of Heights Finance. We talk a bit about the difference Stan sees in banks versus consumer credit companies like Heights. We also touch on fintech and rate caps and both the challenges and opportunities they provide.

The American Financial Services Association (AFSA), along with several other trade associations, submitted an amicus brief in Thompson v. JPMorgan Chase Bank on January 22, a case currently being heard in the Massachusetts Supreme Judicial Court (SJC).

Join us on February 20 at 2:00 p.m. ET for The Borrower’s Digital Journey, presented by REPAY.

The American Financial Services Association, along with a number of other trade associations, submitted a comment this week (January 20th) in response to a Request for Information (RFI) from the Consumer Financial Protection Bureau (CFPB) regarding its plan for assessing the “Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act” (Regulation X) and (Regulation Z), the “Truth In Lending Act Rule” (TRID or TRID).

The American Financial Services Association has learned about two scams that people and/or companies are offering to AFSA members.

The American Financial Services Association on January 22 hosted the Top Ten Debt Collections Issues in 2020 webinar, with Kelly Knepper-Stephens, VP of Legal and Compliance, TrueAccord, Caren Enloe, Partner, Smith Debnam, and Ethan Ostroff, Partner, Troutman Sanders sharing insight into new and evolving trends. The presenters covered many issues; we’ve provided a short summary below.

In this episode of the AFSA Extra Credit Podcast, we’re speaking with Rhonda Ashburn, Executive Director of the AFSA Education Foundation. We touch on the power of financial education and look at the many successes the Foundation has had in 2019. We also take a look at the path forward in 2020, when AFSAEF will be celebrating its 30th anniversary.

AFSA submitted a comment on Tuesday to House Energy and Commerce Committee Chair Frank Pallone (D-NJ) and Ranking Member Greg Walden (R-OR) regarding their draft privacy legislation. AFSA commended the Members for their efforts for meaningful reform in this area and offered some suggestions on the bill’s text.

With the rapidly changing marketplace, what do lenders need to know about their dealer partners? How will dealers be positioning their businesses for the near and long term? Are there new products and services which will change the business model? How will technology change the way dealers operate?