On May 31, AFSA submitted a letter to the Consumer Financial Protection Bureau (CFPB) regarding proposed changes to its Supervisory Authority Over Certain Nonbank Covered Persons. These changes would allow the Bureau to publicize its designation of a nonbank covered person as a “risky business.” The letter expresses concern that the change in the confidentiality […]

May is Asian American and Pacific Islander Heritage Month (AAPI), commemorating the emigration of the first Japanese to the U.S. in May of 1843 and to honor the memory of the many Chinese immigrants who built the transcontinental railroad, which was completed in May of 1869. AFSA marks AAPI Heritage Month because the history of […]

AFSA’s State Government Affairs (SGA) team published two 50-state surveys last week on de minimis refund exemptions and collection of time-barred debt.  In some consumer credit transactions, the contract may have an excess balance after being paid in full, such as if a consumer prepays the loan prior to maturity. Reg. Z of the federal […]

The basic function of the Freedom of Information Act (FOIA) is to ensure a transparent and accountable government, which is vital to the functioning of a democratic society. Since 1967 FOIA has provided the public the right to request access records from any federal agency. Federal agencies are required to disclose any information requested under […]

Did you miss attending the conference? Have a colleague who will benefit from AFSA’s outstanding conference content? Our AFSA Conference Download is your ticket to the 2022 Independents Conference. With the AFSA Conference Download, you have a front row seat to the expert insights in-person attendees experienced in La Quinta. A rocking perspective on leadership […]

We’ve got a special episode on the Extra Credit Podcast. AFSA Senior Vice President Celia Winslow appeared on the Auto Remarketing Podcast last week with host Nick Zulovich to discuss a number of issues, including some key regulatory developments and the CFPB’s reinvigoration of its dormant authority to examine nonbanks companies. We’re pleased to be […]

This week, the Committee on Energy and Commerce Subcommittee on Consumer Protection and Commerce, held a hearing on legislative proposals to protect consumers and strengthen the economy. The hearing touched on several House bills including AFSA-supported, H.R. 3962 – Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act). The SECURE Notarization […]

Whether you’re looking to learn more about the digital consumer or understand the newest generation of bill payers, AFSA’s webinar program has you covered. Register for all of the webinars below at afsaonline.org/webinars.   May 26th at 2:00 p.m. ET | Vehicle Financing in the Era of the Digital Consumer Sponsored by Cox Automotive In […]

There is plenty of bad economic news to go around: Inflation trends not seen in more than 40 years; 401(k)s and investment funds taking devastating hits seemingly every day; skyrocketing fuel prices and business costs; ongoing supply chain crises; and regulatory over-reach that may kneecap businesses and consumers alike. Reporters don’t need to be adding […]

The American Financial Services Association (AFSA) was greatly saddened to learn of the unexpected death of John W. Ryan, President and Chief Executive Officer of the Conference of State Bank Supervisors (CSBS). “As the longtime leader of the organization representing the state regulators who supervise the vast majority of our consumer finance member companies, John […]