Two House Financial Services Committee (HFSC) subcommittees held hearings of interest this week for AFSA members.

AFSA's State Government Affairs white paper for May focuses on state and local cash mandates. The rise of consumer use of payment cards and applications instead of cash has inspired many businesses to go completely cashless. In response, some states and municipalities have introduced legislation that would mandate cash acceptance, citing concerns over privacy and accessibility. The white paper takes an in-depth look into these state and local efforts and the effect these mandates would have on financial services companies.

AFSA this week responded to a request for information (RFI) from the Consumer Financial Protection Bureau (CFPB) regarding the credit card market. The bureau is seeking information as part of its mandate to “conduct a review…of the consumer credit market every two years.”

The Acting Superintendent of the New York Department of Financial Services (NYDFS) this week announced the department is creating a new Consumer Protection and Financial Enforcement Division. The new division combines the previously separate Enforcement & Financial Frauds with the Consumer Protection divisions. In the past few years, states have created their own mini-CFPBs in response to a perceived absence of federal enforcement. In addition to New York, there are mini-CPFBs in New Jersey and Pennsylvania, and formerly in Maryland. Members of the California Assembly are considering introducing legislation to create their own mini-CFPB as well.

The latest episode, as well as previous editions of the AFSA Today podcast is available here.

Join AFSA on Thursday May 9, 2019 at 2 p.m. ET for the next installment of our popular webinar series with PCI Compliance & Your Call Centerpresented by PayNearMe.

Five key factors will determine navigating successful marketing initiatives in today’s modern, mobile marketplace, according to one industry expert.

Each year since the mid-1980s, the AFSA Education Foundation offers two important enrichment programs for employees of member companies. The first program is THE EDGE, an acronym for Education, Development, Growth, and Enrichment. Designed for branch managers and team leaders, this initiative features layered modules of learning and offers essential courses taught by industry experts.

Today, the Consumer Financial Protection Bureau (CFPB) announced changes to its policy regarding Civil Investigation Demands (CIDs). The changes are intended to provide more information to the subject of the CID.AFSA has long advocated that the Bureau’s CIDs be more specific. Last April, in response to one of the Bureau’s several requests for information, AFSA submitted comments emphasizing that CIDs should be reasonable. We are pleased that the Bureau has adopted an approach that is consistent with the association's recommendations.

At the conclusion of AFSA’s 2019 AFSA Annual Independents Conference & Exposition, Stan Butler, President & CEO of Heights Finance, began his term as chair of the association’s Independents Section Board. Butler succeeds Brad Noel, Executive Vice President of Branch Operations for Republic Finance.