Recently, the Department of Defense (DoD) sent a response to 23 Members of Congress who sent a bipartisan letter urging the repeal of Question and Answer #2 of the December 2017 Military Lending Act (MLA) interpretive guidance. In its letter, the DoD writes that Q&A #2 “does not provide an unlimited exception for financing additional credit for purposes not expressly related to the item being purchased.”

AFSA Business Partners are ready and excited to meet you in the Expo, the main hub of the conference. Exchange best practices, access new technologies and meet friends in one of the country’s finest resorts at La Quinta. I’m honored to serve as the 2020 Independents Section Chairman and I hope to see you in a few short months.

How are the changing automotive and financial ecosystems transforming auto finance today and in the future?

The National Black Caucus of State Legislators (NBCSL) recently ratified a resolution calling on state policymakers to put in place and enforce fundamental consumer protection rules on “debt settlement companies.” You can review the resolution here.

The American Financial Services Association today announced three new members to serve on its Board of Directors:

AFSA President & CEO Bill Himpler appeared on Nexstar Television Stations during the holidays in an interview with reporter Kellie Meyer. Their conversation was part of a story on the woefully inaccurately titled “Veterans and Consumers Fair Credit Act,” introduced by Senator Jeff Merkley (D-OR) and others, which would impose a 36% national rate cap (a companion bill is being considered in the House of Representatives).

Join us on January 22, 2020 for Top Debt Collection Issues in 2020, presented by AFSA.

AFSA last week sent a letter to Senate Banking Committee Chairman Mike Crapo (R-ID) supporting S. 3003, the Financial Institution Customer Protection Act.

Last week I had the pleasure of sitting down with reporter Kellie Meyer of Nexstar, a media company with more than 180 local broadcast affiliates across the country. Our conversation was part of a story on the woefully inaccurately titled “Veterans and Consumers Fair Credit Act,” introduced by Senator Jeff Merkley (D-OR) and others, which would impose a 36% national rate cap (a companion bill is being considered in the House of Representatives).

The Senate yesterday passed the Pallone-Thune TRACED Act by unanimous consent. The House passed the bill earlier this month by a vote of 417-3.