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Nov 02, 2023

The featured Business Partner for the month of November is Flagstar Bank. Flagstar Bank is a leading regional bank headquartered in NY with over $100 billion in assets and a robust Corporate Banking Division. Within Corporate Banking, we focus on lending verticals that meet the specialized needs of our clients. Our Lender Finance Group, for […]

November White Paper on Debt Settlement Companies
Nov 02, 2023

Our latest white paper is now available. This month’s white paper takes a deeper look into debt settlement companies. Debt settlement companies promise to reduce consumer debt significantly, but they charge high fees and may not disclose that creditors are not obligated to cooperate. With the rise in non-housing consumer debt in the U.S., they’ve become an attractive alternative to […]

Ready to Get to Work
Oct 26, 2023

It was good to see new Speaker of the House of Representatives, Rep. Mike Johnson (R-LA), move quickly to get the chamber refocused on taking up the peoples’ business. While the past several weeks created some uncertainty, it also focused attention on perhaps the most crucial domestic policy agenda in front of our nation and […]

AFSA Corrects CFPB’s Misconceptions on Powerbooking
Oct 26, 2023

This week, AFSA commented on the Consumer Financial Protection Bureau’s Summer 2023 Supervisory Highlights. This CFPB report shares its perspective on certain practices, including new or updated areas of focus in supervisory reviews. However, using the Highlights to paint with broad brushstrokes specific actions as unfair or deceptive can be dangerous, especially when the CFPB […]

Happy Holidays?
Oct 23, 2023

The consumer credit market received early good tidings last week with the National Retail Federation’s holiday spending outlook. Based on a survey of more than 8,000 consumers, it found that the more than 90 percent of American adults planning to celebrate the upcoming winter holidays expect to spend an average $875 dollars in the process. […]

Pennsylvania HB 1580 – Remote Work
Oct 19, 2023

This past week, AFSA’s State Government Affairs team sent a letter to the Pennsylvania House Commerce Committee expressing support for HB 1580. This bill would permit specific personnel from licensed sales finance companies to engage in remote work. Facilitating remote work will benefit all parties involved, offering license holders greater flexibility in their staffing policies […]

Lifting the Hood on New Auto Data
Oct 18, 2023

Cox Automotive reported that auto loan performance remained a mixed bag in September. Delinquency rates continued to rise but are not translating to higher defaults rates. The share of loans delinquent for 60 or more days increased for the fifth month in a row in September and was up sharply on a year-over-year basis. Moreover, […]

October White Paper | Consumer Complaints 2023 Update
Oct 16, 2023

AFSA’s State Government Affairs’ latest white paper is now available. This month’s white paper delves into top consumer complaints reported by states. Consumer complaint information can serve as a valuable resource for financial institutions aiming to enhance their operational methods and spot practices that could soon become subject to further regulatory oversight. Yet, gaining a […]

Business Partner Webinar | How to Retain Market Share Amid Declining Auto Originations
Oct 13, 2023

October 19, 2023 at 2:00pm EST U.S. auto originations are largely trending down – 9.4% YoY decline – according to the TransUnion Q2 Credit Industry Insights Report. The rejection rate for auto loans rose to 14.2% in June 2023 from 9.1% in February of this year according to Federal Reserve. The problem is being fueled […]

Rules Not Releases
Oct 12, 2023

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued an advisory on what it calls “junk fees.” AFSA has long been engaged on this issue and has argued that the pejorative term “junk fees,” while sure to get headlines, fundamentally misunderstands how the consumer credit market operates and in many cases mis-portrays to consumers and the […]

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