Last week, the Federal Communications Commission (FCC) approved further rulemaking that would clarify that telephone companies are prohibited from imposing a charge on callers for removing erroneous call blocks and must implement a redress mechanism to receive safe harbor protections. Specifically, this order would provide a safe harbor for telephone companies that use call authentication information to […]

The American Financial Services Association (AFSA) sent a letter yesterday to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Charles Schumer (D-NY) requesting that the following measures be included in the Senate pandemic relief package that is expected to be rolled out this week. Apply relief from the Current Expected Credit Loss (CECL) standard for the […]

What Should We Expect? Federal & State Issues There couldn’t be a more timely session on issues facing our industry. Join this session for an informative discussion on the latest federal, state, and legal issues affecting the financial services industry. AFSA experts will cover Congress, changes at the CFPB, and the legislative and regulatory environment […]

The American Banker reported on Sunday (July 19) what AFSA has been saying for years – banks aren’t making, and don’t want to make, small-dollar loans. In the article, Uncertainty About CFPB Has Banks Leery of Small-dollar Lending, author Kate Berry writes that despite the fact that the Trump administration has urged banks and credit unions to compete in […]

The American Financial Services Association (AFSA) is saddened to learn of the passing of Mr. Joseph Shuler on July 16. Mr. Schuler began working at the Florida Department of Financial Services at the age of 18 as a mailroom clerk. Over the next three decades, Mr. Schuler worked his way up to retire as the […]

Join us on July 30 at 2:00 p.m. for Three Strategies From Survive to Thrive: How to Come Out On Top Post-Covid presented by SourceLink. Given the world in which we currently live, companies can no longer return to a static plan. What’s needed now is a dynamic  strategy based on the ability to quickly absorb information and […]

The American Financial Services Association (AFSA) this evening sent a letter to Reps. James McGovern (D-MA) and Tom Cole (R-OK), the Chair and Ranking Member of the House Rules Committee, and Reps. Adam Smith (D-WA) and Mac Thornberry (R-TX), Chair and Ranking Member of the House Armed Services Committee, which has jurisdiction over the National Defense Authorization […]

The U.S. House of Representatives this week is considering amendments to the National Defense Authorization Act (NDAA). Among the amendments is one offered by Rep. Jesus “Chuy” Garcia (D-IL) and Rep. Glenn Grothman (R-WI) that would impose the Military Lending Act’s rate cap of 36 percent on all Americans. Last year, Garcia and Grothman introduced […]

Join us on July 16th at 2:00 p.m. for The Aftermath of the COVID-19 Crises: Establishing Resilience with Your Risk Assessment Decisions, presented by FICO. The current global crises have made a significant impact on auto finance industry driving many auto lenders to rethink their risk assessment strategies. Approximately 26 million people are still unemployed in the […]

This week, AFSA wrote a letter to Congress in support of the E-SIGN Modernization Act (S. 4159). This piece of legislation would streamline how consumers consent to receiving electronic documents like billing statements, account information, and contracts. As we witness significant advancements in technology such as smart phones and computers, it is important to expand consumer access to […]