The CFPB has announced changes to its procedures for imposing risk-based supervision on non-bank consumer finance companies. Earlier this year, the CFPB asked for comments on making changes to these procedures. AFSA commented, agreeing with the CFPB that its proposed changes would be helpful to reduce coercion of consumer finance companies and reduce unfairness. The new changes track […]

On September 22, 2025, AFSA submitted a comment letter in response to the CFPB’s advance notice of proposed rulemaking (ANPR) on supervision of vehicle finance companies. The ANPR asked for thoughts on changing the way the CFPB supervises non-bank vehicle finance companies. Under the Dodd Frank Act, the CFPB is allowed to impose supervision on non-bank companies […]

Sharon Moore, February 1, 1947-September 21, 2025 AFSA was saddened to learn today that longtime consumer industry professional Sharon Moore passed away. Sharon was deeply involved in the consumer loan industry for decades serving in various executive leadership roles and as a former AFSA and Education Foundation Board of Directors member. During her career Sharon was […]

The House Financial Services Committee recently held a hearing on various financial frauds and scams, and in advance of the hearing AFSA sent a letter to the committee highlighting several scams currently affecting consumers and lenders, including credit repair scams, for-profit debt settlement schemes, and auto loan fraud issues. AFSA’s letter urged the Financial Services Committee […]

As was widely expected, the Federal Reserve cut interest rates, lowering the target range for the federal fund rate by 25-basis points between 4 percent to 4.25 percent. The Federal Open Market Committee, the Fed’s interest rate policy body, has long debated the potential tradeoff inherent in its dual mandate of promoting both price stability and […]

BUSINESS PARTNER WEBINAR LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE SEPTEMBER 25, 2025 AT 2:00 P.M. EST Refunds may seem routine—but for auto lenders, they’ve become a hidden source of cost, compliance risk, and customer frustration. In this session, we’ll uncover the real impact of check-based refund processes and explore how leading […]

BUSINESS PARTNER WEBINAR AUTO FINANCE IN TRANSITION: WINNING IN THE AGE OF DIGITAL, EVS, AND EMBEDDED LENDING OCTOBER 2, 2025 AT 2:00 P.M. EST The U.S. auto finance market is shifting fast. With over $1.5 trillion in outstanding loans and EVs projected to hit 40% of sales by 2030, lenders face rising competition, regulatory pressure, […]

Lending Power: How Consumer Credit is Shaping the U.S. Economy Consumer lending isn’t just a financial service; it’s a cornerstone of U.S. economic performance and touches nearly every part of American life—from buying a car to starting a small business or simply covering back to school costs. But how much does consumer lending really shape […]

A small group of Senate Democrats recently introduced the Protecting Consumers from Unreasonable Credit Rates Act, which would cap fees and interest on consumer loans at an APR of 36 percent. While we appreciate the goal of barring unregulated and predatory actors from taking advantage of consumers and forcing them into unending cycles of debt, this […]

BUSINESS PARTNER WEBINAR LOST IN THE MAIL: SOLVING REFUND DELIVERABILITY IN AUTO FINANCE SEPTEMBER 25, 2025 AT 2:00 P.M. EST Refunds may seem routine—but for auto lenders, they’ve become a hidden source of cost, compliance risk, and customer frustration. In this session, we’ll uncover the real impact of check-based refund processes and explore how leading […]