The CFPB is hosting a five-part series of webinars highlighting new approaches for combatting elder financial exploitation. According to the National Council on Aging, up to five million Americans are victims of elder financial exploitations each year, causing damages of at least $36.5 billion. The five sessions will be moderated by Jenefer Duane from the […]

AFSA is preparing comment letters on three crucial initiatives that will drastically affect consumer credit. The Consumer Financial Protection Bureau’s (CFPB) proposed nonbank registries on “repeat offenders”; The CFPB proposed registry on terms and conditions; and The Federal Trade Commission’s (FTC) rule prohibiting noncompete clauses. These three initiatives raise serious concerns for the consumer credit […]

Your greatest asset isn’t the loan portfolio or the brick-and-mortar stores you have. It’s your people. That’s what we’re tackling at the 2023 Vehicle Finance Conference & Expo in our Sustaining Your Greatest Asset: Human Capital Growth & Development session, sponsored by OpenLending. In a tight labor market, it’s time for employers to shift from the […]

A new study, currently posted for public comment, has found that rate caps prevent Americans from accessing high-quality credit products they need and want. The study, entitled Effects of Illinois’ 36% Interest Rate Cap on Small-Dollar Credit Availability and Financial Well-being, is authored by J. Brandon Bolen of Mississippi College, Gregory Elliehausen of the Board […]

AFSA conferences are chock full of great sessions and networking opportunities. You will not want to miss an “After Hours” concert with East/West Records America recording artist John Splithoff on Wednesday, January 25th at 9:00pm in the Stemmons Ballroom. Haven’t registered yet? Visit vehicle.afsaonline.org today!  

The AFSA Education Foundation’s MoneySKILL® was featured in the Office of the Comptroller of the Currency’s (OCC) first quarter 2023 Financial Literacy Update. The OCC’s Financial Literacy Update is a quarterly e-newsletter that reports upcoming events, new initiatives, and related resources of the OCC and other government agencies and organizations. The Financial Literacy Update provides […]

Today, AFSA responded to the Consumer Financial Protection Bureau’s CFPB Finds Members of the Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year press release. The Servicemembers Civil Relief Act (SCRA) entitles active duty servicemembers to an interest rate reduction provided they notify the lender in writing and include a copy […]

Last week, AFSA, along with many other trade associations, submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) in response to its announcement seeking additional information on auto lending. The letter laid out several issues with the Bureau’s request. First, the Bureau’s press release and documentation “lack meaningful context, transparency, and direction.” Additionally, […]

AFSA has had a great year – check out some of the association’s successes in 2022.  

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the House Financial Services Committee yesterday. Members of the committee took the opportunity to address concerns over the Bureau’s use of a long dormant power that allows it to examine nonbank companies that it believes pose risks to consumers. Republicans took control of the House […]