New survey results from the Federal Reserve Bank of New York highlight recent trends in financial fragility and access to credit. Unfortunately, the news is not good, especially for younger households and those with weaker credit histories. The latest Survey of Consumer Expectations (SCE) Credit Access Survey reports that the likelihood of an average household […]

AFSA monitors every bill that might affect its members. This includes bills out of the typical committees of jurisdiction – the House Financial Services Committee and Senate Committee on Banking and Urban Development – as well as amendments offered during floor votes. It is important to know what legislation is being considered, but how often […]

What is the state of the vehicle marketplace and where do consumers stand as they plan for 2024?  How are overseas markets and industry players thinking about their forward-looking strategies and the U.S. market?  And where are the U.S. and global economies – and vehicle finance markets – headed in the coming year with both […]

With EV innovation, affordability, and financing options aligning for U.S. market growth in 2024, will U.S. policies and infrastructure keep pace? Gain exclusive insights in this must-attend session for AFSA conference participants from our All-Star Industry Analysts on market forecasts, access and affordability, and their views on where industry and consumer incentives and infrastructure build out […]

Consumers want to do business with companies that treat them fairly, are transparent, and – in the case of financial institutions – provide clear and easy to understand terms. Businesses should expect the same treatment from the policymakers and regulators that oversee them. AFSA appreciates the letter from Reps. Huizenga, Meuser, and Ogles to the […]

Financial industries are always looking to embrace innovations to meet consumer needs, particularly when it comes to understanding and utilizing data for a good, frictionless, and personalized digital experience for customers. As companies leverage AI and machine learning for data insights and an accurate understanding of their customers, how is AI providing actionable insights that […]

Last week, the American Financial Services Association joined several other groups urging the Consumer Financial Protection Bureau (CFPB) to issue an Advanced Notice of Proposed Rulemaking (ANPR) before it publishes a Notice of Proposed Rulemaking (NPRM) to amend the Fair Credit Reporting Act. AFSA and the other trades are concerned that a rushed, inadequate rulemaking […]

Today, AFSA joined a coalition letter urging the CFPB to deny the recent Petition for Rulemaking that would establish regulation banning pre-dispute arbitration provisions in contracts for consumer financial services. AFSA opposes new CFPB rulemaking in this space because arbitration reduces transaction costs and enables fair, speedy, and efficient dispute resolution, thereby providing significant advantages […]

This week Assistant Secretary for Financial Institutions Policy, Graham Steele chaired a convening in the Treasury Cash Room. Civil rights organizations, consumer advocates, and research organizations discussed financial inclusion and financial barriers that underserved communities face. This week’s meeting was one of many the Department of the Treasury is hosting in an effort to develop […]

American Financial Services Association (AFSA) has submitted comments on the Consumer Financial Protection Bureau’s (CFPB) recent action in the Fair Credit Reporting Act (FCRA) space. The letter addresses several proposed changes in the “Small Business Advisory Review Panel for Consumer Reporting Rulemaking Outline of Proposals” (SBREFA). AFSA shares the CFPB’s mission to protect consumers from data […]