The U.S. Circuit Court of Appeals for the Fourth Circuit has scheduled oral arguments in Davidson v. UACC for October 26 at 9:30 am ET. The case addresses whether financing Guaranteed Asset Protection (GAP) brought a vehicle contract under the Military Lending Act (MLA). The arguments will be streamed online. Based on the court’s past […]

AFSA is pleased to announce that Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB) will address the 2022 AFSA Annual Meeting held at The Breakers in Palm Beach, FL from October 23-26. Director Chopra was confirmed as the third director of the CFPB in October 2021. He previously served as Commissioner of the Federal […]

The featured AFSA Business Partner for September is Allied Solutions. We asked them a few questions about the value of AFSA membership and some of the opportunities or challenges they face in 2022. Learn more at alliedsolutions.net. What are some key initiatives for your clients in 2022 that you are planning to support? These past […]

Join Danielle DiMartino Booth, CEO & Chief Strategist for Quill Intelligence LLC, and Steve Riccuitto, Chief Economist of Mizuho Securities USA at the 2022 AFSA Annual Meeting for a lively examination of the U.S. and global economies, trends to watch in 2023 and how those trends will affect consumer credit. How have consumers and the […]

AFSA’s State Government Affairs (SGA) team published a new 50-state survey on installment lending licensing. The survey provides an overview of state licensing requirements. In 34 states and the District of Columbia licensees can apply through the Nationwide Multistate Licensing System (NMLS). In 16 states, licensees must apply directly with the state regulator. The survey […]

This week, AFSA’s State Government Affairs (SGA) team, in collaboration with the California Financial Services Association (CFSA), sent a letter to the California Department of Financial Protection and Innovation (DFPI) regarding DFPI’s proposed rulemaking on the consumer complaint process under the California Consumer Financial Protection Law (CCFPL).   The letter expresses AFSA and CFSA’s concern that […]

Ready for a CFPB Auto Finance Examination on VPP processes? A consumer case study may show you are not The CFPB, state attorneys general, and other regulators have increased their focus on lender practices for cancelling and refunding voluntary protection products (VPP), such as GAP/ Debt Waivers. Their goal is to ensure consumers are made […]

The CFPB recently released an interpretive rule articulating its view regarding digital marketing and the definition of service provider under Dodd-Frank (or the Consumer Financial Protection Act as codified).  Companies that meet the definition of service provider under the law are subject to the CFPB’s authority and are obligated to comply with the federal consumer […]

Yesterday, AFSA submitted a comment letter to the Chairs and ranking Members of the House and Senate Armed Services Committees outlining its position on several provisions of the National Defense Authorization Act (NDAA) for Fiscal Year 2023 (S. 4543 and H.R. 7900). The NDAA sets the annual budget and spending priorities of the Department of […]

The Featured Premier Business Partner for August is Lightico. We asked them a few questions about their goals for 2022 and the benefits of being an AFSA Business Partner. Learn more about Lightico.com. What are some key initiatives for your clients in 2022 that you are planning to support? Rising inflation and high oil prices […]