American Financial Services Association - Blog
Member login
American Financial Services Association

Blog

Blog

Stay Informed >  Blog

CFPB Releases Outcomes from Use of Alternative Data in Credit Underwriting
Aug 12, 2019

The Consumer Financial Protection Bureau (CFPB) has released information from its review of alternative data underwriting by Upstart Network, Inc. (Upstart). Upstart received a No-Action Letter from the CFPB in 2017 that allowed the company to engage in credit underwriting and pricing operations using alternative data and machine learning techniques, subject to oversight by the Bureau and adoption of a compliance plan. On August 6, 2019, the Bureau announced some of its findings from close observations of Upstart’s models in comparison to a hypothetical model that relied on traditional data and tools.

AFSA Attends NCSL Legislative Update
Aug 09, 2019

This week, AFSA’s State Government Affairs team attended the National Conference of State Legislatures (NCSL) meeting in Nashville, Tenn. With over 6,000 attendees, NCSL’s annual legislative summit is the largest gathering of state elected officials, legislative staff members, and government-affairs professionals. During the conference attendees discussed a wide range of issues on the state level and voted on a variety of policy directives and resolutions in committee meetings.

Don’t Get Burned by Missing Out on the AFSA Summer Sale
Aug 08, 2019

Become a Business Partner Member today and start generating leads and winning customers in the consumer-finance industry. Enjoy a single rate for 2019 and 2020, plus a bonus worth $1,300.

AFSA Requests FTC Change Safeguards Rule
Aug 07, 2019

AFSA submitted a letter last week to the Federal Trade Commission (FTC) seeking changes to their proposed rule amending the Standards for Safeguarding Customer Information before it is implemented.

Approach Your Business Path with Purpose
Aug 05, 2019

Everything​ we do in business, from building strong teams or expanding operations to marketing to our communities or meeting compliance requirements, should hold greater meaning than simply business as usual.

CFPB Extends Comment Period on Debt Collection Proposal
Aug 02, 2019

The Consumer Financial Protection Bureau (CFPB) today announced that it would extend the comment period for the Notice of Proposed Rule Making implementing the Fair Debt Collections Practices Act (FDCPA).

AFSA Reverse Mortgage White Paper Provides Insights, Updates
Aug 02, 2019

This week, AFSA’s State Government Affairs team published their latest white paper, covering reverse mortgages. Reverse mortgages offer a way for seniors to tap into the available equity of their home and can help them maintain their standard of living, afford long-term care or cover other expenses for their families during their lifetimes.

AFSA Assembling Working Group on QM Proposal
Aug 02, 2019

The CFPB has released an advance notice of proposed rulemaking to solicit feedback about future changes to qualified mortgage standards under Regulation Z. In particular, the CFPB intends to allow the current treatment of loans eligible for purchase by Fannie Mae or Freddie Mac (“GSEs”) to expire on schedule.

Back-to-School AFSA University Promo
Aug 02, 2019

Are you looking to take your compliance training to the next level? Have a fresh compliance training program but need a bit more substance? AFSAU is exactly what you need and it’s more affordable than ever.

1 115 116 117 118 119 120 121 122 123 124 125 145