AFSA’s State Government Affairs (SGA) team this week published its white paper on the California Consumer Privacy Act. The paper takes an in-depth look at California's new privacy law, which was signed by Governor Brown this June and becomes effective in January 2020. The law is similar to the European General Data Protection Regulation (GDPR) and has significant effects on the financial services community. The paper is also available under the State Resources section of AFSA’s website.On September 7, AFSA presented a webinar on the new privacy law, featuring Rick Fischer with Morrison Foerster and Meghan Musselman of Hudson Cook. Members can view a recording, download slides and review extensive Q&A’s from the presented in the Webinar Resource Center.

On Oct. 1, AFSA wrote to the Internal Revenue Service (IRS) asking that it clarify that indirect finance companies qualify for a 20 percent deduction the way direct lenders do.

On September 28, the Connecticut Department of Banking issued a memo announcing a no action position regarding Section 97 of HB 5490/Public Act 18-173, which amended state law to require sales finance companies to collect and maintain records of the ethnicity, race and sex of applicants and co-applicants for retail installment contracts starting October 1. The Department’s memo states that the Department has formally requested that the Bureau of Consumer Financial Protection (BCFP) provide an official interpretation as to whether the state’s requirements are consistent with Regulation B. The memo indicates that the no action position will remain until the Department receives further guidance from the BCFP.

The following article is part of AFSA's Business Partner Webinar Series. You can learn more during Equifax's webinar on Oct. 2 at 2 p.m. ET entitled Verify to Clarify – Know More About Your Customers to Help Grow & Increase your Portfolio Profitability. Registration is open now.

AFSA’s State Government Affairs (SGA) team this week published its White Paper on the 2018 Gubernatorial Elections Preview, examining the races in states that will hold elections.

Paul Watkins, Director of the Office of Innovation at the Bureau for Consumer Financial Protection (BCFP), is the luncheon speaker Oct. 24 at AFSA’s upcoming Annual Meeting.

Join AFSA on Tuesday, October 2 at 2 p.m. ET for Verify to Clarify – Know More About Your Customers to Help Grow & Increase your Portfolio Profitability, presented by Equifax.

The second podcast in AFSA’s recently-launched AFSA Today series is available at afsaonline.org/podcasts.

AFSA staff attended the Bureau of Consumer Financial Protection’s (BCFP) Building a Bridge to Credit Visibility Symposium on Sept. 17, the focus of which was using innovation to build economic opportunity.

The Bureau of Consumer Financial Protection (BCFP) this week posted a blog saying it is emphasizing growing its state and local government relationships, as part of its Strategic Plan and Objectives for this year.