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AFSA Joins Coalition Letter on Noncompete Agreements
Apr 19, 2023

Today, AFSA joined a coalition letter commenting on the FTC’s proposed rule to ban noncompete agreements. AFSA, with the U.S. Chamber of Commerce and 280 other organizations express concerns regarding the proposed rule. The letter highlights the following two main problems: Noncompetes serve vital business and employee interests. The letter states that “courts, scholars, and […]

Voluntary Protection Products – Lender Best Practices to Address the Compliance Risk
Apr 19, 2023

Over the last several years, scrutiny placed on lenders in connection with the financing and servicing of voluntary protection products (add-ons) has increased tremendously. Recently, the industry has seen an increase in activity on the regulatory, litigation, and legislative front in connection with these products. The CFPB and other regulators have concluded that lenders must […]

AFSA Calls on Congress to Rein in Credit Repair Scams
Apr 14, 2023

AFSA signed onto a joint trade letter urging the House Financial Services Committee to introduce legislation aimed at curbing the threat credit repair scams pose to consumers and credit markets. As several state and federal regulators have warned, credit repair organizations take advantage of consumers trying to improve their financial situation by inundating financial services […]

Dailey Wilson on the Safeguards Rule
Apr 13, 2023

In this edition of the AFSA Extra Credit Podcast, we tackle the soon-to-be-effective FTC Safeguards Rule. Dailey Wilson, Attorney with Hudson Cook gives us the 35,000 foot view of the rule, some of the nitty gritty that companies will have to get into and who exactly is covered (hint, its most folks). Dailey also discusses […]

Court Sides With UACC
Apr 12, 2023

Service members, their families, the vehicle finance industry, and enthusiasts for statutory interpretation won in the 4th Circuit today. A panel of judges voted 2-1 to affirm a district court opinion in Davidson v. United Auto Credit Corporation. The question in this case is whether the Military Lending Act (MLA) applies to auto loans. The […]

Industry Expertise | Savvy Decision Making through Rear and Windshield Views
Apr 12, 2023

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. Savvy Decision Making through Rear and Windshield Views By: Suzi Straffon, Director, Finance Company Markets | Allied Solutions Will we see a recession? Is the housing market […]

CFPB Goes too Far on Abusive Policy Statement
Apr 05, 2023

The CFPB has released a policy statement intended to explain the legal prohibition on abusive conduct in consumer financial markets. In 2010, in response to the financial crisis, Congress passed the Consumer Financial Protection Act, and created the prohibition on abusive conduct. This added a new term to a field of consumer protection that for […]

Final Rules Implementing CCPA Published
Apr 05, 2023

The California Privacy Protection Agency (CPPA) recently published their final rules implementing the California Privacy Rights Act. The rules address a wide range of regulatory topics including data processing agreements, consumer opt-out mechanisms, business-to-business data, disclosures and notices, and data archives and backups. The rules took effect immediately upon approval by the Office of Administrative […]

CFPB Releases Final Small Business Lending Rule
Apr 04, 2023

On March 30, the CFPB issued a final small business lending rule to implement Section 1071 of the Dodd-Frank Act. Under the rule, covered financial institutions will be required to collect and report to the CFPB data on applications for credit for small businesses, including those that are owned by women or minorities. AFSA has […]

Webinar | The Power of Pricing Optimization in a Tumultuous Auto Finance Landscape
Apr 04, 2023

The Power of Pricing Optimization in a Tumultuous Auto Finance Landscape April 13, 2023 | 2:00 p.m. ET The perfect storm has arrived in today’s auto finance market. Digitalization, inflation, increasing cost of funds, and evolving consumer expectations have created a lot of chaos, while urging technological and strategic shifts across the entire auto finance industry. Adding […]

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