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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

On April 3, 2023, AFSA submitted a comment letter to the  Consumer Financial Protection Bureau (CFPB) relating to its proposed rule creating a registry of contract terms (such as arbitration provisions) used by supervised non-bank financial institutions.  If adopted, this rule would require a subset of financial institutions to deliver information on contract terms to […]

Fortegra is the Featured Business Partner for April. 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 Protection, we offer: […]

Today, AFSA responded to the CFPB’s proposed nonbank registry related to enforcement. The proposed rule would require nonbank-covered persons to register and submit specific information to the proposed registry regarding final, public orders issued by federal, state, or local agencies or courts. AFSA is concerned that the new registry seems currently structured to “name and shame” rather than act as a useful […]