Yesterday, Representatives Wiley Nickel (D-NC) and Young Kim (R-CA) introduced the bipartisan “Ending Credit Repair Scams Act” (HR 9991). This bipartisan legislation would protect financially distressed consumers from shady credit repair organizations (CROs) that falsely promise to rebuild their credit history while charging expensive up-front and monthly fees. The American Financial Services Association (AFSA) and […]

AFSA recently joined the Bank Policy Institute (BPI) and America’s Credit Unions (ACU) in filing an amicus brief in support of the argument that the CFPB’s recent changes to the Supervision and Examination Manual go far beyond policing intentional discrimination. In March 2022 the Bureau amended the UDAAP chapter of the manual to address the interaction between unfairness and discriminatory conduct. In September 2022 the U.S. Chamber of […]

The New York Times reached out recently for AFSA’s perspective regarding the recent Consumer Financial Protection Bureau supervisory review of auto financing practices. We were happy to share some thoughts for the Times’ story (subscription required). As we noted, the CFPB is quick to categorize errors as though they are malicious, intentional … or profitable. […]

AFSA has launched a fundraising effort to support short- and long-term recovery efforts in communities across the southeast U.S. affected by Hurricanes Helene and Milton, virtually raffling off one fully paid registration for the 2025 AFSA conference of the winner’s choice, Vehicle or Independents Conference & Expos in New Orleans or Huntington Beach, CA respectively, or the Annual […]

AFSA’s State Government Affairs team has released its October white paper, which is focused on “buy now, pay later” (BNPL) services. The rise of online shopping has fueled the popularity of BNPL services, which allow consumers to borrow the exact amount needed and spread payments over four installments. While BNPL is a new industry, the idea […]

“News From Our Members” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan Bucherer. PayNearMe Press Release PayNearMe Expands Presence in Personal Lending With GOLDPoint Systems Partnership September 19, 2024 Technology integration enables GOLDPoint Systems’ […]

The featured Business Partner for the month of October is ACI Worldwide As an unrivaled leader in billing and payments, ACI Worldwide offers ACI Speedpay, proven to drive efficiency and increase collections. Through our comprehensive suite of software solutions, we provide real-time payment and disbursement capabilities and enable the industry’s most complete consumer finance payments […]

“News From Our Members” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan Bucherer. PayNearMe Press Release PayNearMe Expands Cutting-Edge Payment Features and Partner Integrations to Empower Auto and Personal Lenders September 17, 2024 Company’s […]

While the remnants of Hurricane Helene continue up the inland southeast, the devastation to our fellow citizens’ lives is only beginning to be understood, particularly in eastern Tennessee and western North Carolina. AFSA, its member companies, and business partners, extend our thoughts and prayers to those affected by this tragedy, many of whom are our […]

AFSA, along with several other trade associations, wrote to extend support for Rep. Andy Ogles’ (R-TN) Congressional Review Act to nullify the CFPB’s rule to create a “repeat offender” registry. As AFSA has noted, the registry will not help consumers, will drive up costs for financial products, and decrease access to credit. AFSA, ACA International, the American Fintech Council, the […]