AFSA and a coalition of trade associations (the “Trades”) filed an amicus brief supporting TD Auto Finance in Pulliam v. TD Auto Finance, a case concerning the Federal Trade Commission (FTC) Holder Rule. Under this rule, every consumer credit contract must contain a two-sentence clause. The first sentence subjects any “holder” or seller of the contract to all […]

This week, AFSA submitted a letter for the record to the House Small Business Committee requesting that Congress instruct the Small Business Administration (SBA) to clarify that finance companies are eligible for Paycheck Protection Program (PPP) loan forgiveness, as directed by Congress in the CARES Act. The letter was sent in advance of the Committee’s […]

This week, Reps. Jesús “Chuy” García (D-IL), Glenn Grothman (R-WI), and other House Democrats reintroduced a 36% “all-in” rate cap bill. The bill, entitled, The Veterans and Consumers Fair Credit Act (H.R. 5974), would extend the Military Lending Act (MLA) rate cap to all consumers. The following statement may be attributed to Bill Himpler, President […]

In a letter to the Democratic and Republican leaders on the Senate Banking Committee, AFSA shared its thoughts on the current state of credit reporting. Specifically, AFSA highlighted the increasing number of frivolous or duplicative credit disputes submitted by credit repair organizations (CROs). With the promise of improving consumers’ credit scores, these companies aim to […]

The following blog post is from LexisNexis Risk Solutions as an add-on to their recent Extra Credit Podcast episode with Solomon Semere, Senior Director, Credit and Marketing Strategy and Craig Stockum, Sales Director. Historically, the financial market has been able to rely on cyclical demand with a level of predictability in forecasting origination volumes. However, […]

At some point in your product evolution, you’ll reach a point where you’ll ask yourself, “Is it time to start over?” It’s inevitable. Or it should be. But, what if you’ve recently gotten in bed with your once-top competitor and are supporting two products that do basically the same thing but were founded and developed […]

Today, Senator John Boozman (R-AR) led a group of 19 Senators opposing the United States Postal Service’s (USPS) expansion into banking. In September, the USPS launched a banking pilot program to expand consumer financial services to limited check cashing services. The program enables customers to purchase gift cards, which can be used like debit cards, […]

  Registration is open for AFSA’s 2022 Vehicle Finance Conference & Expo from March 8th – 10th at the Bellagio Las Vegas. Need more motivation than meeting up in Vegas?  We are pleased to announce that Jon Taffer, star of “Bar Rescue” and one of the great, global business advisers, will keynote the opening general session of the conference! Jon […]

AFSA’s State Government Affairs (SGA) team recently attended the National Conference of State Legislatures (NCSL) Legislative Summit in Tampa, Florida on November 3 and 4. At the summit, state legislators and regulators as well as industry leaders held panels concerning economic growth, fintech regulation, the future of the workforce, and cybersecurity and ransomware. In addition, the NCSL’s Communications, Financial Services & Interstate Commerce Committee […]

Veterans Day honors the men and women who dedicated their lives in service to our nation’s defense. They’ve chosen to defend the founding principles that make our nation – even  in times of great challenge – a model for freedom, justice and human dignity the world over.  The sacrifices our men and women in uniform […]