Today, a group of Democrat Senate and House members reintroduced legislation, the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. AFSA strongly opposes the mis-named legislation, which would actually harm, not help consumers. Among other things, the bill would prohibit convenience checks and require state-licensed installment lenders to register with the Consumer Financial Protection […]

Over the weekend AFSA Education Foundation (AFSAEF) staff joined AFSA member company representatives in Columbus, Ohio for the Family, Career and Community Leaders of America (FCCLA) National Fall Conference. The conference drew over 1,200 FCCLA middle and high school members, Family and Consumer Sciences teachers and advisers, and supporters from across the nation. AFSAEF exhibited […]

Join us on November 17th at 2:00 p.m. for Disrupting The Status Quo: Learn How AI and Machine Learning are Creating Unprecedented Efficiencies in Auto Finance, presented by Wolters Kluwer. One of the biggest challenges holding back end-to-end digital financing for automotive loans is the data problem. How should lenders digitally capture accurate customer data from loan paperwork […]

Earlier this year, the American Financial Services Association and other trades requested that the Federal Trade Commission (FTC) extend [7/1/22 Letter & 10/19/22 Letter]  the deadline for compliance with its data security safeguards proposal for financial institutions, a request endorsed by the Small Business Administration’s Office of Advocacy other trade groups, and a bipartisan group […]

Today, the American Financial Services Association joined other associations (The American Bankers Association, ACA International, Credit Union National Association, Mortgage Bankers Association, National Association of Federally Insured Credit Unions, National Council of Higher Education Resources, and Student Loan Servicing Alliance), in filing a comment with the Federal Communications Commission (FCC) regarding its effort to target and eliminate unlawful text messages. The FCC’s proposed rule would […]

Today, AFSA and the Consumer Credit Industry Association (CCIA) joined together in an amicus brief emphasizing the importance of federalism and the separation of powers enshrined in the U.S. Constitution. The case, Commonwealth of Pennsylvania, et.al. v. Mariner Finance, is in the District Court for the Eastern District of Pennsylvania. The suit, brought by five […]

The New York Department of Financial Services released new proposed language for their cybersecurity rules and will be taking comments until January 9, 2023. The proposed rules create new cybersecurity guidelines based on company size, operations, and nature of business. The rules also outline requirements for risk assessments and standards for employee training and awareness. AFSA […]

Join us on November 17th at 2:00 p.m. for Disrupting The Status Quo: Learn How AI and Machine Learning are Creating Unprecedented Efficiencies in Auto Finance, presented by Wolters Kluwer. One of the biggest challenges holding back end-to-end digital financing for automotive loans is the data problem. How should lenders digitally capture accurate customer data from loan paperwork […]

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer. By Allied Solutions Evergreen class action lawsuits are bringing increased attention to ancillary product refunds (such as GAP, Tire & Wheel, AD&D etc.) due when they no […]

This week, AFSA’s State Government Affairs team sent a letter to the New York Department of Financial Services (DFS) regarding DFS’ proposed rules on commercial financing. Published on September 14, the proposed rule would clarify disclosure requirements for providers offering commercial financing. In the letter, AFSA requested that DFS exempt transactions that provide disclosures that […]