Lost in the attention being paid to exactly when and by how much the Federal Reserve will lower the federal funds rate is the fact that interest rates at the far end of the yield curve are already falling. This is due to lower market expectations both for inflation in the long-run and for short-term rates […]

Last week, , Representative Andy Ogles (R-TN) introduced a Congressional Review Act (CRA) to the CFPB’s nonbank registry rule related to enforcement. Representative Ogles has been highly supportive of the financial services industry and wrote in opposition to the registry when it was first proposed. Representative Ogles rightly stated that the “nonbank registry would impose […]

The featured Business Partner for the month of September is Allied Solutions. There is power in partnership. Allied Solutions and Securian Financial partner to provide relevant, compliant solutions for consumer and auto finance companies. With our consultative approach and commitment to the market, we offer our clients a comprehensive product suite of claims, insurance, lending, […]

AFSA’s State Government Affairs team sent a petition for emergency rule or order to the New Hampshire Bank Commissioner regarding NH HB 1243. AFSA has been continuously engaged with the New Hampshire Banking Department throughout the finalization process of HB 1243, a substantial re-write of the state’s longstanding vehicle finance code.   The petition urged the […]

Last week AFSA sent a letter to the CFPB reiterating enforcement concerns with the nonbank registry. As AFSA previously noted, the rule is overly broad and conflicts with a multitude of consumer protections already in place at both the federal and state levels. Such a backward-looking registry is illogical and could lead to multiple actions by […]

Today, August 26th, AFSA marks the 104th anniversary of Women’s Equality Day and the significant achievement of the 19th Amendment’s ratification. This amendment, passed in 1919 and ratified in August 1920, made an historic change in the U.S. Constitution by enshrining women’s right to vote. As we celebrate this milestone, let’s renew our dedication to […]

This week, AFSA and other trade organizations filed an amicus brief in support of a vehicle finance company facing an enforcement action from the CFPB, which is attempting to amend settled law that the financial services industry has operated under and relied on for decades and is outside of the formal notice-and-comment rulemaking process via a […]

Back-to-school season is well underway, bringing with it the need for supplies, new clothes, books, and more. According to a National Retail Federation survey, back-to-school outlays for the coming academic year will amount to $39 billion, or $875 per household for the K-12 set, while the college-bound will spend an even larger $87 billion in […]

Yesterday, AFSA submitted comments to the CFPB on its proposed rule concerning medical debt.  In the letter, AFSA highlighted four specific issues with the proposed rule: The CFPB lacks authority for this rulemaking At the outset, the CFPB lacks the authority to prohibit credit reporting agencies from providing medical debt information in consumer reports. The […]

“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. . For more information about this sponsored content opportunity, contact Dan Bucherer. Lien on Me: Champ Titles ELT Will Be Your Friend By Champ Titles It is the reality of every business: Faster transactions mean faster […]