The Consumer Financial Protection Bureau (CFPB) today announced a Notice of Proposed Rulemaking(NPRM) aimed at addressing the reporting of medical bills on credit reports. This initiative follows the CFPB’s September 2023 announcement to explore options for restricting such reporting practices. The CFPB’s NPRM highlights the importance of accurate credit reporting that ensures both a safe […]

The featured Business Partner for the month of June is Fortegra. For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty. Our diverse and comprehensive product offerings continue to provide growth opportunities for our partners. In addition to our Credit […]

Today, the Consumer Financial Protection Bureau finalized a proposal to create a nonbank registry related to enforcement matters. The final rule requires certain nonbank entities to register information about their company and certain orders and to submit copies of those orders to the CFPB. The Bureau is also requiring certain supervised nonbanks to file annual […]

Alfa, a leading provider of enterprise software for the automotive finance industry, has announced the release of Scalability, the fourth of six releases that make up Alfa Systems 6 – a breakthrough iteration of its Alfa Systems software platform. Providing “truly always-on, financially coherent operation – without restriction”, Scalability in Alfa Systems 6 presents leading-edge […]

Today, the U.S. Supreme Court handed down its ruling in the much-anticipated Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case that challenged the CFPB’s independent funding mechanism through the Federal Reserve. The American Financial Services Association joined with other trades in an amicus brief arguing that the Bureau’s “funding scheme […]

As our industry adapts to the evolving financial and economic landscape while seeking to capitalize on emerging opportunities, broadening the pool of capital providers and expanding funding options is top of mind. Join our all-star panel of senior leaders and learn how our industry is adapting to this evolving landscape, navigating market changes, and leveraging […]

The Federal Reserve announced Wednesday that it would leave its short-term interest rate target unchanged at 5.25 percent to 5.5 percent. The news was not a surprise. That the Fed would remain on hold was considered a near certainty in the weeks leading up to the meeting. Nevertheless, the broader conversation about interest rate policy […]

In PayNearMe’s new study “Consumer Trends Driving the Future of Loan Payments,” we reveal that challenges in the loan repayment process and poor payment experiences jeopardize customer loyalty and retention for lenders. You can read more on PayNearMe’s website.  

The featured Business Partner for the month of May 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 […]

Last week, AFSA’s State Government Affairs team sent a joint comment letter to the California Senate Judiciary Committee regarding Senate Bill 1076 and consumer privacy rights in the state. In the letter, AFSA expresses support for SB 1076 to broaden the scope of information provided by registered data brokers and mandate the Consumer Privacy Protection […]